Malaysia signed three memoranda of understanding worth RM19.84 billion with Chinese companies – Fahmi Fadzil

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KUALA LUMPUR: As of August 2023, Malaysia had secured over RM37.4 billion in investment commitments across various digital technology sectors, promising the creation of at least 15,895 high-value jobs.

Minister of Communications and Digital, Fahmi Fadzil said, this remarkable achievement reflects the confidence that foreign investors have in the robust framework of Malaysia Digital (MD), the national strategic initiative for driving the digital economy.

Fahmi said recently Prime Minister Datuk Seri Anwar Ibrahim witnessed the signing of three memoranda of understanding worth a total of RM19.84 billion between Malaysian and Chinese companies, further solidifying Malaysia’s position as an attractive destination for investments.

“Malaysia Digital Expo (MDX) 2023, with its wide array of auxiliary events, serves as a platform to showcase Malaysia’s capabilities and potential. It is not just an expo; it is a testament to our nation’s readiness to explore new horizons, elevate our digital ecosystem, and open doors for businesses to expand into the ASEAN region and beyond.

“The core message of MDX 2023 is clear: “Let’s do business. Invest in Malaysia.” It is a platform that has been conceptualised by MDEC in collaboration with its partners to showcase the best of Malaysia’s tech ecosystem and digital economy.

“Malaysia’s established reputation as a business destination for tech investors, combined with its strategic location as the gateway to ASEAN, makes it the perfect destination for businesses looking to land, expand, and thrive in this dynamic region,” Fahmi said in his speech at the opening of the MDX 2023 here Monday.

Fahmi added, it is remarkable to note that digital now constitutes nearly a quarter of Malaysia’s Gross Domestic Product (GDP), signifying its growing importance in the national economic landscape.

“By adopting a holistic approach to strengthening our digital ecosystem, we ensure that Malaysia and Malaysians are not only agile but also competitive on the global stage, and are able to enjoy and leverage on the opportunities that we continue to create.

“MDX 2023 represents a pivotal step towards achieving these goals. It serves as a testament to Malaysia’s appeal as a digital investment destination,” he said.

Meanwhile, on the 1st September, the Government unveiled the New Industrial Master Plan 2030 which aims at revitalising the nation’s manufacturing sector, increasing its value-added turnaround to the tune of RM587.5 billion by 2030.

He mentioned that the seven-year plan is expected to provide employment to 3.3 million people through creation of high-value and skilled jobs as well as advancing Malaysia towards higher value chain activities, especially in the automation and technological sectors.

Fahmi stressed that KKD and by extension, MDEC, are fully aligned on this national goal. Through the “Tech Up for Digitally Vibrant Nation” initiative, digital and technological advancements and transformation will drive the next cycle of growth, increasing productivity and opportunities for businesses and the Rakyat.

“In order for us to get the gears in motion, we need to ensure investments coming into Malaysia and that those we are already housing here continue expanding unabated,” he reiterated.

The Minister said: “As we reflect on the presentation by MDEC earlier, it’s evident that MDX 2023 has brought together the best minds from across the globe, visionaries and innovators who share a common goal of shaping the digital future.

“I would like to take this opportunity to call upon all captains of industries, media personnel, partners and stakeholders present here today, to take on an active role within MDX 2023, to form effective partnerships and collaborations with us,” he said.

“As we embark on this exciting journey throughout the six weeks of MDX 2023, I encourage you to take full advantage of this unique opportunity. Let’s leverage the power of digital to foster innovation, drive economic growth, and create a prosperous and inclusive society for all Malaysians.- Malaysia World News


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