Malaysia surpasses RM70 billion digital investments target, says MDEC

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The Malaysian Digital Economy Corporation (MDEC) has reportedly announced that Malaysia has surpassed its RM70 billion digital investments target under the Malaysia Digital Blueprint (MyDigital).

MyDigital is a government initiative that represents its aspirations to transform Malaysia into a digitally enabled and technology-driven high-income nation. It also aims to make Malaysia a regional leader in the digital economy.

Don’t miss: MARTRADE and MDEC to enhance global footprint of Malaysian tech companies with MoU

According to the blueprint, the country aimed to hit RM70 billion in investment in digitalisation by 2025. It also aimed for 22.6% of the digital economy to contribute to Malaysia's gross domestic product (GDP), according to blueprint documents seen by A+M.

MDEC chief executive officer, Mahadhir Aziz, reportedly said to media at the Malaysia Digital Expo (MDX) 2023 that the country has since attracted over RM110 billion in investments. He attributed this to the country’s data centre investments.

He also reportedly added that there is now a proposal to upgrade the target to RM130 billion by 2025, according to New Straits Times.

A+M has reached out to MDEC for further comment.

On the global front, in September 2023, MDEC and the Malaysia External Trade Development Corporation (MATRADE) signed a Memorandum of Understanding (MoU) to enhance the global footprint of Malaysian tech companies. It aimed to further strengthen existing alliances and strategic cooperation between the agencies.

“Under MDEC’s Malaysia Digital (MD) Catalytic Programmes (PEMANGKIN), we promote nine sectors, which we believe can drive high-value digital export and provide a launchpad for tech companies to expand globally,” said Aziz at the time.

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