Malaysia secures RM37.4bil investment commitments in digital sector

The Star

Malaysia has secured over RM37.4 billion in investment commitments in the digital technology sector as of August 2023, promising the creation of at least 15,895 high-value jobs, said Fahmi Fadzil.  The Communications and Digital Minister said when officiating the Malaysia Digital Expo (MDX) 2023 on Monday (Sept 25) that this remarkable achievement reflects foreign investors' confidence in Malaysia Digital (MD), the national strategic initiative driving the digital economy.  Read more at https://tinyurl.com/4vpyjshk  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00 As of August 2023, Malaysia has secured over RM37.4 billion in investment commitments

00:07 across various digital technology sectors, promising the creation of at least 15,895 high-value jobs.

00:16 I repeat, RM37.4 billion as of August 2023, almost 16,000 high-value jobs.

00:24 This remarkable achievement reflects the confidence that foreign investors have in the robust framework of Malaysia Digital,

00:32 our national strategic initiative for driving the digital economy.

00:37 Furthermore, just recently, Prime Minister Datuk Syirano Ibrahim witnessed the signing of three memoranda of understanding

00:44 worth a total of RM19.84 billion between Malaysian and Chinese companies,

00:49 further solidifying Malaysia's position as an attractive destination for investments.

00:54 MDX 2023, with its wide array of auxiliary events, serves as a platform to showcase Malaysia's capabilities and potential.

01:03 It is not just an expo. It is a testament to our nation's readiness to explore new horizons,

01:10 elevate our digital ecosystem and open doors for businesses to expand into the ASEAN region and beyond.

01:18 The core message of MDX 2023 is clear. Let's do business. Invest in Malaysia.

01:26 It's a platform that has been conceptualised by MDEC in collaboration with its partners

01:31 to showcase the best of Malaysia's tech ecosystem and digital economy.

01:36 MDX 2023 is not the first time that we're holding the Malaysia Digital Expo.

01:43 But this is the first year where we will be holding 13 simultaneous or auxiliary events in conjunction with MDX 2023.

01:54 As I mentioned in my speech, we anticipate perhaps close to half a million people to attend across all of these events over the next six weeks.

02:05 Although we are not yet in a position to make any announcements with regards to investments that might be made or signed,

02:13 memoranda of understanding that might be signed over the course of the next six weeks,

02:18 but this indicates that Malaysia is in a very good position to strengthen the digital economy ecosystem,

02:28 both in terms of regulatory framework, the talent pipeline and the overall environment for investment.

02:35 I repeat my earlier calls to ask foreign investors, companies that are based in other regions particularly,

02:48 to think of Malaysia as a launchpad, a stepping stone, a gateway through to ASEAN.

02:56 So Malaysia through to ASEAN. ASEAN is a huge market, 650 million people, with a GDP of more than 1.5 trillion US dollars,

03:07 and is set to grow even faster. I myself just returned from the ASEAN Ministers Responsible for Information meeting in Vietnam.

03:18 Generally across ASEAN, most of the ASEAN countries are speaking about greater collaboration, cooperation and to some extent working together,

03:31 particularly in the field of digital economy. So these are exciting times and I invite all to MDX 2023.

03:40 Thank you.

03:41 [END]

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