Malaysia Digital Economy Week garners RM1.3 bln qualified trade and investments

KUALA LUMPUR: The Malaysia Digital Economy Week at Expo 2020 Dubai has garnered RM1.295 billion worth of qualified trade and investments to Malaysia derived from 110 business leads, 138 business matchings and 16 memorandums of understanding (MoUs).

The amount generated from the 22 participating Malaysian technology companies exceeded the initial target of RM300 million in investment potential and 50 business leads. An estimated 890 jobs will be created as part of the investment opportunities.

Minister of Communications and Multimedia Tan Sri Annuar Musa said this achievement was a testament to Malaysia's strength in the digital economy as well as the global confidence in the nation as a prime digital investment destination.

"The qualified investments will create a chain reaction that includes the creation of many high-value jobs vital to Malaysia's economic recovery in line with the 12th Malaysia Plan, and further drives our value proposition as the digital hub of ASEAN," he said in a statement today.

Annuar added that the qualified trade and investments represents a massive step towards realising the goals of the Malaysia Digital Economy Blueprint (MyDIGITAL), which targets RM70 billion in digital investments by 2025.

The delegation was led by the Malaysian Communications and Multimedia Ministry together with Malaysia Digital Economy Corporation (MDEC), Malaysia's lead digital economy agency.

The Digital Economy Week also marked the announcement of Malaysia Digital, the enhanced and revamped programme to succeed the MSC Malaysia initiative -- or Multimedia Super Corridor -- which has been in operation for 25 years.

Malaysia Digital is set to boost Malaysia's value proposition to attract digital investments through a new framework centred on three primary components - Agility, Flexibility, and Relevance.

MDEC said the government and the agency will also be introducing two initial catalytic projects, namely, DE Rantau and Malaysia Digital Trade under the initiative.

DE Rantau is set to establish Malaysia as the preferred Digital Nomad Hub in ASEAN, while Malaysia Digital Trade will drive interoperability and greater harmonisation of standards and regulatory approaches as well as to facilitate trade within and across borders, said MDEC.

-- BERNAMA