The Malaysian Digital Economy Corporation (MDEC), a key government agency driving digital transformation, has announced that it has exceeded expectations by facilitating MYR 110 billion (USD 23 billion) in digital technology investments. This achievement nearly doubles the initial target outlined in the Malaysia Digital Blueprint’s (MyDigital) initiative.
CEO Mahadhir Aziz credited this success to various factors, notably Singapore’s moratorium on new data centers, resulting in a substantial shift of data center investments towards Malaysia. Consequently, the country surpassed MyDigital’s MYR 70 billion (USD 15 billion) target well ahead of the 2025 deadline. Building on this momentum, a proposal has been presented to Prime Minister Datuk Seri Anwar Ibrahim to elevate the long-term target from MYR 70 billion (USD 15 billion) to MYR 130 billion (USD 27 billion). MDEC envisions Malaysia establishing itself as the digital hub of ASEAN and earning recognition as the digital tiger of Asia.
In the realm of foreign direct investment (FDI), MDEC ambitiously aims to secure MYR 1 billion (USD 230 million) in digital investments across nine key sectors by 2025 through its Malaysia Digital Catalytic Programs (Pemangkin). These sectors encompass digital tourism, agriculture, cities, content, finance, trade, services, health, and the Islamic digital economy.
(Sources: Malay Mail; TechNode Global)
