MY Digital Economy Corporation to attract billions in investments from London Tech Week

Malaysia is expected to rake in foreign direct investments worth billions of ringgit through the Malaysia Digital initiative, an outcome of the Malaysia Digital Economy Corporation’s (MDEC) consistent involvement at London Tech Week 2023.

According to Bernama, MDEC’s CEO, Mahadhir Aziz, it was noted that announcement will be made in the coming week, with the cooperation of government agencies, strategic partners and European digital companies in focused areas ranging from digital finance, data technology to cyber security and cloud solutions.

Mahadhir told Bernama that this is a positive consequence of Malaysia consistently working with global digital companies, with UK being one of the primary contributors to Malaysia's digital economy.  

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Malaysia’s communication and digital minister, Fahmi Fadzil led the Malaysian delegation to London Tech Week, which is a global event that brings together entrepreneurs, investors and industry leaders to discuss growing trends and opportunities in the digital and technology sectors.

Media reports also stated that Minister Fahmi’s speech to the students at LTW included him emphasising the importance of the digital economy and its speedy growth. He said that Malaysia is at the receiving end of big investments as of late, and to remain employable, having expertise in the digital sector will prove beneficial.

The 12^th Malaysia Plan states that Malaysia’s digital economy is set to contribute 25.5% to the country’s GDP and create more than 500,000 jobs by 2025, with an investment target of RM130 billion. 

In accordance with that, Minister Fahmi urged Malaysian students to return to Malaysia to aid the country in building its economy.

LTW 2023's provides the tech ecosystem with a broad platform from which to collaborate and drive positive change. Its mission is to build a more inclusive, sustainable world by uniting the world’s most inspirational founders, business leaders, policymakers, investors, and rising stars.

This year's key themes were 'Growing a thriving and resilient UK tech ecosystem', 'Inspiring a sustainable future' and 'True digital transformation and next tech frontiers'. 

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