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Malaysia’s Growth in Investment and Tech

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Malaysia has marked a significant stride in its investment landscape, attracting RM225.0 billion in approved investments across diverse sectors, showcasing resilience amid global uncertainties. The period from January to September 2023 witnessed a 6.6% increase in investment value, encompassing 3,949 projects and offering 89,495 job opportunities.

Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade, and Industry (MITI), attributes this achievement to the nation’s attractiveness as an investment destination and collaborative efforts under the MADANI Economy framework.

Foreign Direct Investment (FDI) played a dominant role, constituting 55.9% of the total investments, with key contributions from several countries. Notably, this diverse investor base underscores Malaysia’s strategic appeal, especially within the ASEAN region.

The services sector led in approved investments, representing 52.3% of total approvals and offering 40,607 new jobs. ICT, Real Estate, Distributive Trade, Utilities, and Financial Services emerged as key sub-sectors, indicating the sector’s appeal for investments.

Notably, green technology investments surged by 24.6%, aligning with Malaysia’s transition towards a sustainable economy, as outlined in the National Transition Energy Roadmap (NETR) and the New Industrial Master Plan (NIMP) 2030.

The manufacturing sector witnessed a significant upswing, attracting RM99.8 billion, primarily driven by foreign investments (85.0%). Notable projects, especially in the electrical and electronics industry, position Malaysia strategically amidst the anticipated global technology cycle recovery.

Datuk Wira Arham Abdul Rahman, CEO of MIDA, emphasised the pivotal roles of the services and manufacturing sectors, showcasing innovation and positioning Malaysia as a global hub. MIDA oversees a robust pipeline of proposed investments, signifying sustained growth opportunities.

Malaysia’s success in attracting diverse investments signifies its global prowess and resilience. The nation’s continuous efforts in fostering a conducive investment ecosystem position it favourably in the ever-evolving global economy.

The Malaysian government has championed numerous schemes and grants fostering a robust digital economy while empowering entrepreneurs. These schemes aim to accelerate business activities, encouraging technology adoption, and continuous digital innovation, ensuring competitive growth while positioning Malaysia as a digital powerhouse.

The Malaysia Digital Catalyst Grant (MDCG) aims to ignite the adoption and advancement of groundbreaking, sustainable solutions within key sectors promoted by Malaysia Digital (MD), in line with the National 4th Industrial Revolution (IR) policy.

This grant is dedicated to facilitating co-creation, problem-solving, and the development of innovative solutions alongside end-user partners, specifically aimed at driving commercialisation initiatives.

Malaysia Digital X-port Grant (MDXG) is focused on supporting Malaysian technology companies that have demonstrated export readiness and are seeking to expand their global market presence.

MDXG aims to support Malaysian tech firms in Malaysia’s Digital sectors and tech enablers, aiding their global expansion. It focuses on advancing sustainable, disruptive, innovative products, and empowering Malaysian tech companies to redefine industries on a global scale. Additionally, it aims to bolster the reputation of Malaysian tech offerings worldwide, positioning them as industry leaders beyond national boundaries.

The primary goal of the Malaysia Digital Acceleration Grant is to expedite the advancement of Malaysia Digital Status companies already in the stages of commercialisation and expansion, propelling them toward becoming regional leaders. This initiative is in perfect alignment with Malaysia Digital’s endorsed sectors and technological enablers.

It aims to incentivise and advocate for strategic, high-growth, and impactful endeavours within digital focus areas, facilitating a progressive shift up the value chain and fortifying the ecosystem.

This grant accelerates business activities contributing significantly to Malaysia’s Digital Economy. It emphasises enhancing operations through tech adoption and ongoing digital innovations, ensuring companies achieve lasting competitive growth. These companies affirm Malaysia’s standing as a digital powerhouse.

Such concerted efforts underline the government’s commitment to nurturing a vibrant digital ecosystem and propelling entrepreneurial success in the ever-evolving global market.


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