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Fahmi: Digital tech sectors have brought in RM37.4 billion in investment pledges

Publish date: Mon, 25 Sep 2023, 07:12 PM

KUALA LUMPUR: Malaysia has garnered investment pledges of more than RM37.4 billion across various digital technology sectors, said Communications and Digital Minister Fahmi Fadzil.

He said he believed the remarkable achievement reflects the confidence that foreign investors have in the robust framework of Malaysia Digital (MD), the national strategic initiative driving the digital economy.

"As of August 2023, Malaysia had secured over RM37.4 billion in investment commitments across various digital technology sectors, promising the creation of at least 15,895 high-value jobs.

"Furthermore, just recently, Prime Minister Datuk Seri Anwar Ibrahim witnessed the signing of three memoranda of understanding worth a total of RM19.84 billion between Malaysian and Chinese companies, further solidifying Malaysia's position as an attractive destination for investments," he said at the launch of the Malaysia Digital Expo (MDX) 2023 today.

Fahmi revealed in his recent trip to the Conference of Asean Ministers Responsible for Information (AMRI), that most of the Asean countries were speaking about greater collaboration, particularly in the field of digital economy.

"Asean is a huge market; 650 million people with a GDP of more than US$1.5 trillion, and is set to grow even faster.

"Malaysia is in a very good position to strengthen the digital economy ecosystem, both in terms of regulatory framework, the talent pipeline, and the overall environment for investment.

"I repeat my calls to ask foreign investors and companies that are based in other regions particularly to think of Malaysia as a launchpad, a stepping stone, a gateway to Asean countries," he added.

Spearheaded by the Malaysia Digital Economy Corporation (MDEC), MDX 2023 represents a pivotal undertaking within the broader MD framework, with the objective of establishing Malaysia as a foremost digital nation in the Asean region.

The six-week-long event until Nov 8 is set to feature an extensive series of nationwide events, encompassing conferences, workshops, exhibitions, and networking sessions, which anticipate a global turnout of more than 150,000 participants.

"It provides a platform for local and international companies to collaborate and explore new opportunities in the digital economy. It will help showcase Malaysia's digital assets and attract high-value digital investments to grow the digital economy," said MDEC.

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