Malaysia Digital Economy Week Dubai Surpasses Target, Achieves RM1.295 Billion In Trade And Investment

With MDEC hosting the week in Expo 2020 Dubai, the digital agency reported that it’s Malaysia Digital Economy Week had garnered RM1.295 billion worth of qualified trade and investments to Malaysia.

Accordingly, the investments were derived from 110 business leads, 138 business matchings and 16 MOU’s among the 22 participating Malaysian technology companies led by the Malaysian Communications and Multimedia Ministry together with Malaysia Digital Economy Corporation (MDEC).

Held from 9 to 15 January 2022 at the Malaysian Pavilion of the world expo, the Malaysia Digital Economy Week served as a showcase of Malaysia’s technological innovations and Fourth Industrial Revolution (4IR) solutions, encompassing sectors such as Islamic FinTech and digital ID solutions to animation and video games. The event recorded over 20,000 visitors to the Malaysian Pavilion.

The agency added that the RM1.295 billion in qualified investments and 110 business leads garnered have exceeded the initial target of RM300 million in investment potential and 50 leads respectively. MDEC also sees the investment adding an estimated 890 jobs.

“The qualified investments will create a chain reaction that includes the creation of many high-value jobs that will be vital towards Malaysia’s economic recovery in line with the Twelfth Malaysia Plan, and further driving Malaysia’s value proposition as the digital hub of ASEAN,” said Tan Sri Datuk Seri Annuar Musa, Minister of Communications and Multimedia. 

He added that the qualified trade and investments represents a massive step towards realising the goals of the Malaysia Digital Economy Blueprint (MyDIGITAL), which targets RM70 billion in digital investments by 2025.

“Expo 2020 Dubai not only allowed us to expand our network of collaborators worldwide but also further proves the power and prowess of public-private-industry partnerships,” said Mahadhir Aziz, Chief Executive Officer of MDEC. 

Under the Malaysia Digital initiative, the Government and MDEC will also be introducing two initial catalytic projects, namely DE Rantau and Malaysia Digital Trade. DE Rantau is set to establish Malaysia as the preferred Digital Nomad Hub in ASEAN, while Malaysia Digital Trade will drive interoperability and greater harmonisation of standards and regulatory approaches as well as to facilitate trade within and across borders.

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