Malaysia’s Ministry of Communications and Digital, in partnership with MDEC, secured a remarkable RM600 million investment and RM330 million in export opportunities during a mission to the UAE. These accomplishments validate Malaysia’s growing digital capabilities and affirm investor confidence in the nation’s robust digital framework.
19 October 2023 – The Ministry of Communications and Digital (KKD) in Malaysia, in a collaborative effort with the Malaysia Digital Economy Corporation (MDEC), has achieved remarkable success during a strategic investment and export mission to the United Arab Emirates (UAE). This landmark mission, led by the Minister of Communications and Digital, YB Fahmi Fadzil, coincided with the prestigious Gulf Information Technology Exhibition (GITEX Global 2023) and the Expand North Star (ENS) events, delivering a significant boost to Malaysia’s digital economy.
The mission’s triumph can be attributed to a series of Memorandums of Understanding (MoUs) inked between Malaysian and UAE companies. These MoUs include agreements between MDEC and FINRAN, RightCliq Solutions and Secorbit-FZCO, Global Psytech and Cypherleak Limited, HATI International Sdn. Bhd. and Arvensys Group, HATI International Sdn. Bhd. and Xloopdigital, Health Digital Technologies Sdn. Bhd. and Soukare, Health Digital Technologies Sdn. Bhd. and MedikaBazaar, and Enviro Group and Disrupt-X. These agreements open the door to promising collaborations, investments, and export opportunities.
In addition to these formal agreements, productive business meetings were conducted between Malaysian tech companies and potential partners in the UAE, solidifying relationships and exploring future opportunities.
Notably, Minister YB Fahmi held discussions with DAMAC Group, a prominent UAE conglomerate, exploring investment opportunities in strategic sectors. This included discussions on the establishment of a data center in Malaysia, which could significantly bolster the country’s digital infrastructure.
As of August 2023, Malaysia’s achievements extend to securing foreign direct investment commitments totaling RM37.4 billion, indicating substantial investor confidence and affirming the nation’s digital capabilities and economic framework.
These accomplishments signify a strong validation of Malaysia’s growing digital prowess and the unwavering trust investors place in the robust framework provided by Malaysia Digital (MD). MD is a national initiative aimed at propelling the digital economy’s growth and creating opportunities in alignment with Ekonomi MADANI and the New Industrial Master Plan (NIMP) 2030.
The successful participation of twelve high-tech Malaysian companies at GITEX Global 2023 and ENS served to establish platforms for international collaboration, enabling the showcase of digital solutions, products, and services.
Furthermore, this triumph sets the stage for Malaysia Digital Expo 2023 (MDX 2023), a six-week extravaganza celebrating Malaysia’s thriving digital economy, offering an array of opportunities and insights.