Ramping up Malaysia’s digital economy investment

Malaysia’s Digital Economy Corporation (MDEC) has announced that it is looking at its Digital Investments Future5 (DIF5) strategy to secure high quality digital investments from overseas. DIF5 is a five-year plan focusing on five key pillars, and has a target of attracting MYR50 billion in investment in the next four years.

The DIF5 strategy has a focus on five key industry sectors, five focus technologies, and five emerging technologies and digital global business services. Amongst its other goals is to attract at least 50 Fortune500 tech companies to land and expand in Malaysia, the establishment of five “Unicorn” tech startups, and the creation of 50,000 high-value jobs in the “Multimedia Super Corridor” (MSC), a Special Economic Zone and high-technology business district in central-southern Selangor.

According to MDEC - which was established in 1996 as the lead agency to implement the MSC Malaysia initiative, the five industry sectors that have been identified as key drivers are: agtech, healthtech, Islamic digital economy and fintech, cleantech, and edutech. The five technology pillars are: cloud computing, data centres, artificial intelligence, cybersecurity, and digital content tools.

MDEC says the strategy will help ensure Malaysia has a place at the forefront of the rapid evolution of digital technologies and development of a future-ready digital economy.

The Malaysia Digital Economy Blueprint projects that the digital economy will make a 22.6% contribution to total national GDP by 2025.

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