Malaysia in good position to achieve RM70b target for digital investments by 2025 — PM

Malaysia in good position to achieve RM70b target for digital investments by 2025 — PM

13 Sep 2022

Malaysia is in a good position to achieve the RM70 billion digital investment target by 2025, in line with the country’s digital economy blueprint.

Prime Minister Datuk Seri Ismail Sabri Yaakob said Malaysia plays an important role as a digital investment hub in Asean. 

“With world-class infrastructure, a holistic digital ecosystem and highly skilled digital talent, Malaysia can be a major digital investment destination in Asean,” the premier said at the official ceremony of the World Congress on Innovation and Technology 2022 here on Tuesday (Sept 13).

Also in attendance were Penang Yang di-Pertua Tun Ahmad Fuzi Abdul Razak, Communications and Multimedia Minister Tan Sri Annuar Musa, Human Resources Minister Datuk Seri M Saravanan, and Penang Chief Minister Chow Kon Yeow.

Since the launch of the MSC Malaysia initiative in 1996, the country has attracted digital investments worth RM384 billion and generated 180,000 jobs as well as RM588 billion in revenue, according to the prime minister. “After 26 years, MSC Malaysia has been rebranded as Malaysia Digital (MD). MD will transform the national digital ecosystem and drive more direct high-impact programmes for Keluarga Malaysia (the Malaysian Family),” he added.

Ismail Sabri noted that although MD was only launched in July, it managed to attract foreign direct digital investment worth RM42 billion in only two months.

“These investments came in via 28 foreign companies, which are involved in data centres, information technology services, technological creative content, and global business services,” he said.

Meanwhile, domestic digital investments had hit RM4.76 billion as of Aug 24. 

“Through this effort, 6,000 high-value jobs have been created, and it will continue to grow going forward,” the premier said.

The Government has formulated a digital ecosystem to spur innovation through initiatives such as MyDigital, which includes the Malaysia Digital Economy Blueprint and the Fourth Industrial Revolution policy, he added. “The MyDigital initiative also supports the country’s development through the 12th Malaysia Plan to transform Malaysia into a high-income nation, driven by digitalisation, and to be a regional leader in the digital economy,” Ismail Sabri said.

Source: Bernama