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Tech Investment Interest in Malaysia Surges

Touted as ASEAN’S largest Tech Festival, Malaysia Tech Month 2021 (MTM’21) came to a close recently, showcasing the local digital and technology investment opportunities that further strengthen Malaysia as the Heart of Digital ASEAN.

Organised by Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead agency in digital transformation, MTM’21 was held in support of the Malaysia Digital Economy Blueprint (MyDIGITAL) and organised in commemoration of MDEC’s 25th Year Anniversary Silver Jubilee. The month-long event was rolled out in four themed weeks highlighting MDEC’s NADI Digital thrusts – New Skills, Adoption, Disruptors and Investments.

The Secretary-General, Ministry of Communications and Multimedia Malaysia stated that he was confident the Malaysia Tech Month has brought to the global stage, its digital ecosystem leaders and creators, leading-edge companies as well as talents, thus enabling all stakeholders to discover new perspectives on domestic and global trends in artificial intelligence, drone tech, data analytics, fintech and the digital workforce.

The CEO of MDEC noted that MTM’21 is a testament to the importance of the digital economy in a radically shifting socio-economic landscape, demonstrating the strength of Malaysia’s technology ecosystem – from Malaysia’s local corporations and leaders to innovators and digital talents – that truly sets it as the Heart of Digital ASEAN.

Even with the pandemic, MTM’21 has proven to be the ideal platform to connect some of the brightest minds and organisations in our digital and technology ecosystem to the region, as well as attract investors in our digital economy, to discuss solutions that will take us ahead and keep us thriving in such challenging times. MTM’21 will help advance several steps closer to realising the goals set forth by the Malaysia Digital Economy Blueprint (MyDIGITAL) and the Shared Prosperity Vision 2030.

On the first week of MTM’21, MDEC together with Malaysia Investment Development Authority (MIDA) launched the www.heartofdigitalasean.my portal under the auspices of the Digital Investment Office (DIO) to coordinate, assesses, and evaluate digital investments project applications. The portal serves as a single-window for all investors in the digital economy.

Following that launch, five successful digital investment deals totalling RM163.24 million in investments and 173 new jobs were secured.

A German multinational glass company also announced the establishment of its newest international IT competence centre, Schott Asia IT Services (SAITS), which formation is greatly supported by MDEC. The centre currently employs 30 highly skilled IT staff with plans to grow as many as 150 over the next two to five years.

Another conglomerate announced plans to transform Penang into a regional space technology ecosystem hub, which will further foster local innovation and technology transfer while enabling job opportunities throughout the country.

The MyDigitalWorkforce Week was headlined by the Digital Jobs Expo, which offered more than 5,000 job vacancies from over 100 companies. The week also saw the announcement of MDEC’s enhanced Digital Skills Training Directory. MDEC and LinkedIn also inked a collaboration to help enhance the digital presence of businesses and develop digital talents in the country

During Digital Disruptors Week, MDEC announced the opening of the Global Technology Grant (GTG) which provides support for Malaysian tech startups to go global by accelerating technology innovation, research and development, and the creation of market-driven products.

Held from 29 July till 30 August 2021, MTM’21 featured over 40 events totalling 136 sessions and 468 local and international industry speakers and investors, 124 being women speakers. Including 28 satellite events, MTM’21 collectively offered more than 176 hours of content with exclusive insights, knowledge-sharing and discussions.

Throughout the month, MTM’21 attracted participants from across 77 countries, ranging from Southeast Asian nations like Indonesia, Vietnam, and the Philippines to as far away as Europe, United Kingdom and the United States.

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