Malaysia draws RM7.2bil in digital investments in 1H22

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Communications and Multimedia Minister Tan Sri Annuar Musa

KUALA LUMPUR: The Ministry of Communications and Multimedia (K-KOMM) through Malaysia Digital Economy Corporation (MDEC) has attracted more than RM7.2 billion in investments in the first half of 2022, apart from investments of RM10.94 billion recorded in 2021, bringing the total investments to RM18.14 billion.

Its Minister, Tan Sri Annuar Musa, said the investments which comprised foreign direct investment (FDI) and domestic direct investment (DDI) were projected to create close to 10,000 job opportunities.

"This accomplishment has proven that Malaysia is in the best position to achieve the digital investment target of RM70 billion by 2025, in line with the Malaysia Digital Economy Blueprint (MyDIGITAL)," he told a media conference after attending the National Digital Network (JENDELA) Steering Committee meeting today.

The digital investments were obtained from 53 rapidly expanding and renowned companies in the industry from various countries including Australia, China, Japan, Singapore, Switzerland, the Netherlands, the United Kingdom, and the United States.

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He also said that the efforts to attract investors is part of national efforts to make Malaysia as the digital hub in ASEAN, as well as help in accelerating the economic recovery from the effects of the COVID-19 pandemic.

"Digital investments are very important in the economic recovery process, as it would create knowledge workers and help to expedite innovation as well as technology adaptation during the Fourth Industrial Revolution, subsequently propelling the digital economy further and strengthen Malaysia's position to become a digital economy," he added. - Bernama

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