PRIME Minister Anwar Ibrahim said Malaysia would decide within the next two days whether to participate in the Asia Pacific Economic Cooperation (Apec) Economic Leaders’ Week (AELW) 2023. 

“I am coordinating with all countries. So far, most (of the countries) are attending. So, I will check on this (matter) in one or two days,” he told reporters after officiating the launch of the Malaysia Digital Expo 2023 Grand Finale today. 

Apec is a regional economic forum established in 1989 to leverage the growing interdependence of the Asia-Pacific.  

This year’s AELW will convene in San Francisco, California from November 11 to 17. 

The 21 Apec member economies account for nearly 40% of the global population, nearly 50 % of global trade, and more than 60 % of US goods exports. 

Apec’s 21 member economies are Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taipei, Thailand, the United States, and Vietnam. 

Anwar, who is also finance minister, reiterated that digital transformation is the key strategy to ensure Malaysia emerges as a successful nation.  

“Our digital economy stands as one of Malaysia’s key economic pillars, currently contributing a substantial 23.2% to our nation’s gross domestic product (GDP).  

“We project that this figure will soar to 25.5% (of the GDP) by 2025,” he said.  

Anwar added that in the third quarter of 2022 alone, the digital economy garnered US$15.7 billion (RM73.32 billion) in investments, solidifying its status as one of the fastest-growing sectors. – Bernama, November 6, 2023.