MDEC Targets High Value Digital Investment with Malaysia Digital Rebranding

Malaysia Digital Economy Corporation has rebranded MSC as Malaysia Digital aiming for it to encourage and attract companies, talents, and investment into the digital sector of business.

Established in 1996, MSC was conceived to transform Malaysia into a knowledge-based economy, technology companies applied for MSC status to enjoy tax breaks and other perks. The concept eventually spread to real estate where MSC business zones and buildings sprouted giving these companies a conducive working environment among their peers.

Now with Malaysia Digital, MDEC has structured a new and enhanced framework, the new initiative seeks to enhance the nation’s digital capabilities and boost the digital economy.

According to MDEC, together with Communicantion Ministry both parties will establish a dedicated platform for the digital industry to participate and provide valuable feedback on Malaysia Digital, which will include private-sector representatives from relevant industry bodies and organisations as subject matter experts.

Malaysia Digital is built to address three strategic priorities, which are to drive digital adoption among aspiring young entrepreneurs, companies and the rakyat; support local tech companies to become ‘Malaysian Champions’ and successful international players; and attract high-value digital investments. 

To achieve these visions, the Government through will be introducing two initial Malaysia Digital Catalytic Programmes (PEMANGKIN), which are DE Rantau and Digital Trade. 

DE Rantau is a programme to boost digital adoption and promote professional mobility as well as drive tourism across the country, with the goal to establish Malaysia as the preferred Digital Nomad Hub. Digital Trade, on the other hand, will drive interoperability and greater harmonisation of standards and regulatory approaches as well as to facilitate trade within and across borders.

Leading the execution of Malaysia Digital will be the Malaysia Digital Coordination Committee (MD-CC), which will serve to coordinate the governance and operations of Malaysia Digital, including awarding Malaysia Digital status to companies.  

Mahadhir Aziz, CEO of MDEC, said that the agency will continue to drive and accelerate the sustainable growth of the nation’s digital economy with Malaysia Digital as the overarching initiative towards establishing Malaysia as the digital hub of ASEAN. 

Malaysia Digital is bolstered by three key considerations – Flexibility, Agility, and Relevance – which will pave the way for the nation’s ongoing and future efforts as well as add more PEMANGKIN to meet the needs and demands of the future as we step into tomorrow’s digital frontier, today. 

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