Malaysia Drives Economic Growth by Promoting Investments in Emerging Technologies

Deputy Communications and Digital Minister Teo Nie Ching highlighted Malaysia’s proactive efforts in promoting investments in emerging technologies during her keynote address at MWC Shanghai 2023. Malaysia has established regulatory sandboxes, incentive programs, and grants to foster innovation, attract foreign direct investment, and support tech startups. Teo emphasized the importance of collaboration and partnerships to unlock the potential of tech and digital investments in Asia, leveraging Malaysia’s strategic location and strong digital economy.

SHANGHAI, 30 Jun 2023 – Deputy Communications and Digital Minister Teo Nie Ching highlighted Malaysia’s proactive approach in encouraging investments in emerging technologies, such as fintech, e-commerce, and digital health. Speaking at the Mobile World Congress (MWC) Shanghai 2023, Teo emphasized the government’s commitment to fostering innovation through regulatory sandboxes and incentive programs, creating a conducive environment for tech startups and attracting foreign direct investment.

In her keynote address titled “Technology Driving Change,” Teo Nie Ching underscored Malaysia’s focus on developing a thriving tech ecosystem. The country has established regulatory sandboxes, providing a safe space for testing new ideas and promoting innovation. Furthermore, the government has introduced various incentive programs and grants to support tech startups and attract foreign direct investment.

The participation of Malaysia at MWC Shanghai 2023 reflects its dedication to collaboration and partnerships in unlocking the full potential of technology and digital investments in Asia. Teo emphasized the importance of working together with international tech companies, investors, and innovators to leverage collective strengths, share knowledge, and drive transformative change across industries.

Teo Nie Ching highlighted Malaysia’s strategic advantages, including its central location, as a gateway to Asia’s vast market. Companies that establish their presence in Malaysia can leverage the country’s strategic position to expand further into neighboring countries.

The digital economy plays a significant role in Malaysia’s economic landscape, contributing 23.2 percent to the country’s gross domestic product (GDP) in 2021. This figure is projected to rise to 25.5 percent by 2025, reflecting the country’s commitment to nurturing a robust digital ecosystem and driving economic growth.

Author: Terry KS

Share This Post On