Malaysia a preferred investment destination among Chinese investors — MDEC

Malaysia a preferred investment destination among Chinese investors — MDEC

07 Dec 2022

Malaysia remains the preferred investment destination among Chinese investors in the digital economy despite global macroeconomic turmoils, said Malaysia Digital Economy Corporation (MDEC) chief digital investment officer Raymond Siva.

He said some of the prominent companies from China awarded Malaysia Digital Status recently are Bytedance, Chin Data, ChinaSoft International and GDS Data Centers.

Raymond was speaking at a seminar on ASEAN Media’s View on Digital China Media Tour 2022: A New Chapter in Smart City held online on Wednesday.

On July 2022, the government launched the MD initiative, which will succeed Multimedia Super Corridor (MSC) Malaysia to drive digital transformation in focus areas that present high-growth potential, opportunities, importance to boost the national digital economy.

The Malaysian Government, through MDEC, will award Malaysia Digital Status to eligible companies to participate and undertake any of Malaysia Digital’s activities. Malaysia Digital Status companies will be entitled to a set of incentives, rights and privileges from the government, subject to necessary approvals, compliance to applicable conditions, laws and regulations

Raymond said within just two months since its launch, MD has successfully brought in RM42 billion worth of foreign direct digital investments and RM4.76 billion from expanding domestic direct digital investment (DDI), generating 6,000 high-value jobs.

Meanwhile, ASEAN China-China Centre Secretary-General Shi Zhongjun said as the world’s fifth and second-largest economies in the world and with a combined population of over two billion, ASEAN and China are highly complementary in the digital economy.
The ASEAN Digital Masterplan 2025, he said, sets the vision to transform ASEAN as a leading digital community and economic bloc while China is at the forefront of digital economy development with world-leading digital infrastructure.

“Promoting the ASEAN-China digital economy partnership will help the two sides overcome current economic difficulties caused by Covid-19, gain greater growth momentum and achieve common development and prosperity,” he said.

ASEAN Media’s View on Digital China Media Tour 2022, organised by China Daily and ASEAN-China Centre and co-organised by China Daily Website and Cyberspace Administration of Shenzhen, is a platform to bring new insights, new proposals to ASEAN and China’s digital cooperation.

Source: Bernama