Growing Ecosystems to Attract Investments Remains Aim of Malaysian Government and Its Agencies
Creating and growing ecosystems to attract investments are crucial to national growth.
The National Fourth Industrial Revolution (4IR) Policy – the latest strategy from the Malaysian Government – is set to drive digitalization. In line with this plan, the Prime Minister’s Department (Economy) reiterates the need to continue growing ecosystems to attract investments.
The 4IR Policy will leverage digital and technological adoption. Areas of focus will include innovation, infrastructure, interconnectivity, as well as governance, and skills. To ensure that policy aims are achievable, the Government and all its agencies will continue to foster conducive ecosystems. This will then ensure that Malaysia remains attractive to investors.
Agencies such as the Malaysia Digital Economy Corporation (MDEC) play a crucial role in growing and nurturing sustainable ecosystems. Strategic collaborations – e.g., Malaysia Tech Month 2021 – also make it possible to posit Malaysia as the Heart of Digital ASEAN.
Malaysia as the Nexus of ASEAN Digital Investment
The Digital Investment Office (DIO) is a new collaborative launch between MDEC and the Malaysian Investment Development Authority (MIDA). It supports the MyDIGITAL Blueprint with a strategic goal of RM70 billion in investments by 2025. With a digital economy contribution push, DIO also aims to impact Malaysia’s gross domestic product (GDP) from 19.1% to 22.6%. This reflects the Government and its agencies’ commitment to growing ecosystems to attract investments, helping drive the nation forward.
With endorsement from 4IR and the National Council on the Digital Economy, DIO will play a pivotal role. It will act as the one-stop go-to digital platform for all digital investments, including foreign and domestic ventures. It will also seamlessly connect and network all relevant Malaysian investment promotion agencies (IPAs). This will streamline all processes and narrow down loss while driving the conversion of potential leads.
DIO has the capacity to make a sustainable impact and drive Malaysia’s digital investment scene. Aside from highlighting relevant value propositions to investors, DIO will also handle other strategies. These include policy advocacy, coordination, facilitation, and evaluation.
Diving Malaysia Forward
The Prime Minister’s Department (Economy) is confident that fast and timely action will secure first-rate digital investments. The Government and its agencies, such as MDEC and MIDA, will continue to maintain the momentum of growth. By attracting high-quality investments, the digital economy will be able to drive Malaysia forward at a sustainable pace. This will also ensure that digitalization facilitates the well-being and welfare of the nation as a whole.
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