The National Council of Digital Economy and Fourth Industrial Revolution (MED4IR) chaired by Prime Minister YAB Tan Sri Muhyiddin Yassin endorsed the establishment of the Digital Investment Office (DIO), entrusted to charge towards facilitating digital investments in Malaysia.
The role of DIO is consistent with the MyDIGITAL Blueprint and the National Investment Aspirations, guided by the essence of the Shared Prosperity Vision (SPV) 2030. The DIO is a fully-digital collaborative platform between the Malaysian Investment Development Authority (MIDA) and Malaysia Digital Economy Corporation (MDEC) to coordinate and facilitate all digital investments.
The objective of this endeavour is not only to create awareness on digital investments in the country but to also strengthen the coordination among all Investment Promotion Agencies (IPAs) in promoting and attracting new investments in this fast-evolution segment.
Senior Minister and Minister of International Trade and Industry (MITI), Dato’ Seri Mohamed Azmin Ali remarked, “The Digital Economy is the engine of future growth for Malaysia. The setting up of this DIO is indeed timely in line with the evolution of the investment landscape in the region towards digitalisation and Industry 4.0, as it will create a unique value proposition for the upcoming digital investments. We are optimistic that with this structured governance in investment promotion and facilitation, Malaysia’s digital ecosystem will be further strengthened and primed for the future, ensuring the country remains competitive on the path of recovery post-Covid.”
Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA reiterated both the Agencies’ commitment to facilitate quality investments into the country, including digital investments, “This DIO builds upon Malaysia’s aspiration to position as a Digital Hub in the region. As the principal investment promotion and development agency of the country under MITI, MIDA looks forward to work closely with MDEC to accelerate the growth of digital investments, which will indirectly develop more highly skilled local professionals and groom digital global champions. In the long run, this will enhance Malaysia’s competitive advantage, offering undeniable pull factors for investors, both foreign and local alike.”
“The DIO is a game changer as it will be the single point of contact for investors in our digital economy. It is a significant milestone for the investment facilitation, combining MIDA’s global infrastructure and MDEC’s subject matter expertise in the digital economy ecosystem to attract high quality digital investments to benefit our businesses and people, in line with our agenda of Malaysia 5.0,” said Surina Shukri, Chief Executive Officer of MDEC.
