Malaysia is now bracing for an influx of billion-ringgit worth of foreign direct investments, a significant triumph attributable to the Malaysia Digital Initiative. A brainchild of the Malaysia Digital Economy Corporation (MDEC), this success was manifested at London Tech Week 2023, an international event held to discuss the rising trends and lucrative opportunities in the technology and digital sectors.
MDEC’s CEO, Mahadhir Aziz, revealed to Bernama that the forthcoming announcement will feature the collaborative efforts of government agencies, strategic partners, and digital companies from Europe. They aim to innovate in diverse areas such as digital finance, data technology, digital health, digital marketing, cloud solutions, data centers, cybersecurity, and digital recruitment.
This achievement underscores Malaysia’s steadfast commitment to nurturing relationships with worldwide digital companies. The United Kingdom, in particular, stands out as one of the main contributors to the flourishing digital economy of Malaysia. Malaysia’s digital economy, contributing to 25.5% of the nation’s GDP, is projected to generate over half a million jobs by 2025 with an ambitious investment target of RM130 billion.
Fahmi Fadzil, Malaysia’s communication and digital minister, led the Malaysian delegates at the global event. Media reports highlighted Minister Fahmi’s engaging discourse on the rapid growth of the digital economy and its crucial role for Malaysia. He emphasized that having expertise in the digital sector will prove advantageous in light of the significant investments coming to Malaysia.
Malaysia’s 12th Plan indicates that the country’s digital economy will significantly boost the GDP and generate considerable employment opportunities. In line with this, Minister Fahmi encouraged Malaysian students overseas to return and assist in their homeland’s economic development.
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London Tech Week 2023 is celebrated for providing a comprehensive platform for the tech ecosystem to collaborate and spur positive change. Its mission to create an inclusive, sustainable world unites the globe’s most inspirational founders, business leaders, policymakers, investors, and rising stars.
This year, the event’s key themes were ‘Growing a thriving and resilient UK tech ecosystem’, ‘Inspiring a sustainable future’ and ‘True digital transformation and next tech frontiers’, all of which align with the goals and initiatives of the Malaysian digital economy.
This news was based on the information obtained from the Marketing-Interactive website.
