Malaysia Secures USD 7.9 Billion Investment Commitments in Digital Sector, Launches Malaysia Digital Expo

October 2023

Malaysia’s Communications and Digital Ministry (KKD), which oversees telecommunications, broadcasting, and digital sectors announced that the country has secured MYR 37.4 billion (USD 7.9 billion) in digital technology investment commitments. These commitments are anticipated to generate over 15,895 high-quality job opportunities.

To spur more such investments, the ministry launched the Malaysia Digital Expo 2023 (MDX 2023) in October 2023. Malaysia Digital (MD) is the primary national initiative steering the digital economy. Spanning six weeks, this robust platform will encompass everything from conferences and exhibitions to workshops and networking sessions. The expo, anticipated to pull in over 150,000 international attendees, aims to solidify Malaysia’s reputation as a digital hub within the ASEAN region. Leading MDX 2023 is Malaysia Digital Economy Corporation (MDEC), a government agency focuses on the country’s digital economy transformation. MDEC envisions the expo as a magnet for collaborative endeavors, offering businesses—both local and international—a platform to explore the vast expanse of the digital economy and underline Malaysia’s strengths in the sector.

KKD emphasized that vast investments are encouraged and indicative of global investors’ faith in Malaysia Digital. It further underlined the significance of this digital transformation. The government aims to secure MYR1 billion (USD 230 million) in digital investments across nine industries by 2025, under the Malaysia Digital Catalytic Programs (Pemangkin). The targeted sectors include digital tourism, agriculture, cities, content, finance, trade, services, health, and the Islamic digital economy.

(Sources: The Star; New Straits Times)

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