COMMUNICATIONS and Digital Minister Fahmi Fadzil has reiterated that Malaysia continues to be a preferred investment destination particularly for investments in data centres. 

He said there has been growing interest in what Malaysia could offer with regard to hosting data centres and the government is committed to developing governance structures, public policy and regulatory frameworks.

“We are prepared to engage with businesses and organisations in order to have a particularly robust and future-ready ecosystem, what more given that Malaysia will chair Asean in 2025. At this stage, different countries within Asean possess slightly different preparedness when it comes to regulatory framework, especially around data protection. 

“As such, we will not only be working on an economic framework agreement but also with my counterparts to accelerate the development of regulatory frameworks within Asean, to make sure that 660 million people are more ready to embrace and participate in the digital economy,” he said at the Digital Transformation Leaders CxO Summit - Intelligent Digital Transformation in the 5G Era, today. 

In the Malaysian context, Fahmi said one the things that needed attention was convincing businesses on how technologies could help to not only reduce cost, increase efficiency and productivity, but fundamentally shift and bring some changes to organisations to prepare for future technologies. 

“So I encourage you (leaders at the summit) to start having more conversations including with Malaysia Digital Economy Corporation (MDEC) to see what the federal government can do to facilitate and expedite your investments including bringing talents from abroad,” he said.

He said this is a commitment given by Prime Minister Anwar Ibrahim that he wished to change the way the world looks at Malaysia. 

Fahmi said it is also in line with the country’s New Industrial Master Plan 2030, whereby the digital economy is one of the key pillars to drive economic growth for the next decade.

Meanwhile, MDEC chief executive officer Mahadhir Aziz said it would be exploring many parts of technology adoption, including a combination of blockchain and artificial intelligence, among others.

He said that MDEC is actively strengthening the technological ecosystem, offering crucial support and resources to cultivate innovation, foster growth, and drive digital transformation. 

“Through fostering a dynamic collaborative environment, MDEC is committed to propelling Malaysia towards a future characterised by cutting-edge advancements and sustainable digital development,” he said. – Bernama, November 22, 2023.