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Bolstering Malaysia as a Digital Investment Hub

Image Credits: MDEC, Press Release

Malaysia Digital Economy Corporation (MDEC), the nation’s lead digital economy agency, announced the fourth edition of the Malaysia Digital Week 2022 (MDW2022). Prominent and leading captains of the industry and other thought leaders were featured.

Since its establishment in 1996, MDEC and MSC have driven digital transformation and adoption across the public and private sectors in Malaysia. As the world moves rapidly, MDEC continues to focus on leading Malaysia’s digital economy forward by accelerating:

Aligned with the recently launched national strategic initiative, Malaysia Digital (MD), MDW2022 will help to drive MDEC’s goal to strengthen the nation’s position as the Digital Hub of ASEAN. The digital tech conference in Malaysia will spotlight the digitalisation of the nine tech focus sectors as identified under Malaysia Digital. It featured conversations, discussions and keynotes around technology trends, case studies, progressive digital investment policy and regulatory frameworks.

The Minister of Communications and Multimedia Malaysia (K-KOMM) stated that as the nation’s recognised digital investment promotion agency, MDEC will be working to catalyse the growth of the digital ecosystem and secure continued investments from technology companies through strategic initiatives.

He noted that MDW 2022 will foster stronger relations and engagement with digital investment stakeholders from across the region. In addition, MDEC looks forward to learning from the innovative ways industry players are using technology to shape an inclusive and equitable digital economy.

MDEC’s CEO noted that MDW2022 provides a platform to present Malaysia’s key digital capability and capacity propositions. Moreover, the aim is to expand Malaysia’s horizons and engage in conversations and exchange of ideas throughout the event, as ways to catalyse and accelerate the growth of the digital economy in line with the goals of Malaysia Digital (MD) are identified.

The Ministry of Communications and Multimedia will also share the latest development on the National Data Sharing Policy (NDSP) which will enable data accessibility, increase data availability in the ecosystem and encourage data usage to foster the country in becoming a data-driven nation.

Participants will be able to explore investment opportunities, gain valuable market access and insights, network with industry captains within the local tech ecosystem as well as seek collaborations with industry partners. MDW2022 is part of MDEC’s continuous efforts to drive digital investments (Foreign Direct Investments and Domestic Direct Investments) towards achieving RM50 billion worth of investment and creating 50,000 jobs by the year 2025.

At the event, the Minister of Communications and Multimedia Malaysia (K-KOMM) also announced the Malaysia Digital Climate Action Pledge (MDCAP), a corporate pledge that aims to build capacity and increase the adoption of sustainability and climate action by businesses across the digital economy.

MDCAP is jointly developed by the Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency, in partnership with UN Global Compact Network Malaysia & Brunei (UNGCMYB).

The first cohort of MDCAP Signatories consists of 28 businesses from the digital economy sector. These signatories will have access to resources including a climate action playbook and carbon toolkit (including a calculator, online scoresheet and reporting tool), to help them take an affirmative climate action plan.

This Pledge is aligned with the Government’s commitment to be a carbon-neutral nation by 2050. As outlined in Twelfth Malaysia Plan (12MP), the Government is aiming for a 45% reduction in greenhouse gas emissions intensity of GDP by 2030, compared to a 2005 baseline, and to achieve a 31% renewable energy mix by 2025.

Malaysia has strong ambitions to be a sustainable nation and a regional digital hub. It is keen to make the nation more attractive to investors and professionals. The Minister of Communications and Multimedia recently launched DE Rantau, a programme aimed at establishing Malaysia as the preferred digital nomad hub to boost digital adoption and promote digital professional mobility and tourism across Malaysia.


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