AMAZON Web Services’ (AWS) latest investment will further enhance Malaysia’s competitiveness in the information and communications technology (ICT) industry, while helping small and medium enterprises (SMEs) foster innovation, in line with the country’s digital aspirations, Minister of International Trade and Industry Tengku Zafrul Abdul Aziz said.

He added that the ministry and its agencies will continue to play a role in attracting quality digital investments, creating more value and opportunities for growth via data and cloud-based technologies, as well as generating high-paying jobs for Malaysians.

“These investments are also important in creating spill-over effects for our SMEs, who can also become world-class by being part of the vendor ecosystem of multinationals like AWS.

“I have been informed that AWS will eventually have an 80% Malaysian workforce.

“The partnership between the government and AWS has all the makings of a very promising future supporting Malaysia’s economic development, while also fulfilling the nation’s digital ambitions,” he said in Kuala Lumpur today.

AWS announced that it would be opening a new infrastructure region in Malaysia, with an estimated investment value of RM25.5 billion over 15 years.

According to Tengku Zafrul, Malaysia is rapidly emerging as Asean’s digital hub thanks to its highly developed ICT infrastructure, including high-speed internet connectivity and a well-developed telecommunications network, that provides a conducive environment for digital innovation and growth.

He added that the country boasts a large pool of tech talent, with graduates majoring in key subjects such as computer science, electrical engineering, and data science.

“Malaysia’s skilled and diverse workforce makes it an alluring destination for companies seeking to enhance their digital capabilities and regional footprint,” he said.

The minister added that Malaysia’s robust intellectual property protection framework and the rule of law also assure investors like AWS that their innovations and investments will be safeguarded and protected.

“There is further good news: our revised new industrial master plan 2030 will seek to enhance all these advantages and better position Malaysia as the gateway to Asia.

“We are also looking to improve the ease of doing business for investors. All these, and more, will be unveiled in our plan in the third quarter of 2023,” he said.

In line with the national investment plan and national investment aspirations (NIA), Tengku Zafrul said direct investment plays a key role in accelerating the nation’s growth and revitalising Malaysia’s investment landscape, especially in responding to emerging trends.

Launched in October 2022, he said the NIA emphasises increasing economic complexity, creating high-value job opportunities, extending domestic linkages, developing new and existing economic clusters, as well as improving inclusivity. 

From January to September 2022, Tengku Zafrul said Malaysia successfully attracted almost RM194 billion worth of approved investments. – Bernama, March 2, 2023.