Malaysia Digital, the successor programme to MSC Malaysia, will be equipped with a refreshed Bill of Guarantees and non-location-based incentives, as reported by Bernama.
The framework will also see an expansion of locations for MSC Malaysia-promoted activities, said the chief executive officer of Malaysia Digital Economy Corporation (MDEC) Mahadhir Aziz.
He said Malaysia Digital will focus on three pillars, namely agility, flexibility, and relevance.
“The new Malaysia Digital initiative will offer greater agility to local and international tech companies by providing more options and flexibility for companies to choose from competitive fiscal and/or non-fiscal incentives.
“It also seeks to expand beyond designated locations into a nationwide initiative, providing more flexibility and opportunity for companies to grow, expand, or reinvest anywhere in Malaysia,” he said in a speech during the opening of the Malaysia Digital Economy Week at Expo 2020 Dubai.
In addition, Malaysia Digital will also feature improved governance and processes to meet the industries’ diverse needs at speed to accelerate Malaysia’s digital economy.
With greater agility, flexibility, and relevance, MDEC believes Malaysia will be able to better deliver the needs of its global and regional investors.
“What started off as the driver of MSC Malaysia, creating Malaysia’s own version of Silicon Valley, we have gone through a few iterations, reflecting on the dynamic nature and challenge of technology and digital.
“But the challenges in the past two years will, and have, altered the way we conduct business, the way we connect and the way we live our lives,” Mahadhir said and stressed that Malaysia must adapt, and adapt quickly, in order to stay ahead.
“Today, we are embarking on the next leg of our race towards excellence.
“Malaysia Digital represents the next chapter of our story. We are eager and we are ready to welcome one and all, to Malaysia,” he added.