Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency, has announced that national initiatives to accelerate digital investments in Malaysia have successfully attracted more than RM7 billion in digital investments in the first half of 2022 (H1 2022).
These digital investments are driven by MDEC and the Malaysian Ministry of Communications and Multimedia (K-KOMM), as part of a national effort to establish Malaysia as the digital hub of ASEAN, particularly in accelerating economic recovery following the COVID-19 pandemic.
Foreign digital investments (FDIs) and domestic digital investments (DDIAs) have both contributed to the investments. They also led to the creation of close to 10,000 jobs.
The results indicate that our nation is on track to achieve the RM70 billion target of investments in digitalisation by 2025, as set by the Malaysia Digital Economy Blueprint (MyDIGITAL).
Digital investments are a key aspect towards Malaysia’s economic recovery, as they create high-knowledge jobs and help accelerate innovations and adoption that will further boost Malaysia’s digital economy and firmly establish us as a digital nation.
Our H1 2022 achievement is a testament to K-KOMM and MDEC’s ongoing efforts to drive digital investments in Malaysia. It also highlights the huge investor momentum and trust in Malaysia as a prime digital investment destination in ASEAN, thanks to our world-class infrastructure, holistic digital ecosystem, and skilled digital talents.
The digital investments secured are from 53 fast-growing and industry leading companies from across the globe including Australia, China, Japan, Singapore, Switzerland, the Netherlands, the United Kingdom, and the United States. A majority of these companies are in the digital services and infrastructure sector, followed by digital finance. The other sectors comprise of digital cities, digital health, digital trade, and digital content.
These companies include notable technology companies such as Aerodyne Group, Daythree Business Services Sdn Bhd, CTOS Data Systems Sdn Bhd, and TMF Regional Delivery Centre Sdn Bhd. They served as a strong indicator that Malaysia is fast becoming the prime digital investments hub of ASEAN.
MDEC, as Malaysia’s lead Digital Investment Promotion Agency (IPA), will continue to drive digital investments into our country through Malaysia’s Digital initiative and strengthen Malaysia’s position as the prime digital investment destination in ASEAN.