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Digital minister: Govt committed to boosting digital economy, facilitate investors’ needs

Digital minister: Govt committed to boosting digital economy, facilitate investors’ needs

28 Feb 2024

The government is committed to growing the digital economy in Malaysia as it plays a pivotal role in boosting the economy, proactively anticipating and facilitating investors’ needs by creating strategic intersections between government initiatives and tech investments, said Digital Minister Gobind Singh Deo.

He said that Malaysia has a unique blend of factors that position it as a premier investment hub in Southeast Asia and is poised to be a digital frontrunner in Asean, fuelled by a young and skilled workforce, dynamic tech ecosystem, and regulatory environment conducive to business growth.

“With a sustained and robust gross domestic product growth and a strategic location at the heart of Asean, Malaysia offers access to a young, tech-savvy consumer market comprising over 400 million digital consumers in the region.

“In today’s rapidly evolving digital landscape, the global playing field has been transformed, presenting fresh opportunities for innovation, investment in emerging technologies, and the development of solutions in high-growth markets.

“Indeed, Malaysia is strategically positioned to capitalise on these opportunities, with its vibrant tech ecosystem, skilled workforce, and supportive regulatory environment,” he said in his keynote address at Tech Nexus 2024 here, today.

He also said that the government aimed to ascend Kuala Lumpur to be among the 20 cities globally that offer the best ecosystem to incubate startup businesses through KL20, a sectoral blueprint set to be launched this year.

In line with the Madani government’s ambition, the ministry intends to foster an enabling technology ecosystem that empowers players to innovate and drive transformative solutions for society.

Additionally, he highlighted three initiatives under the ministry’s purview for investors, such as regulatory certainty through the Bill of Guarantees which entitles qualified companies to a set of incentives, rights, and privileges from the government under Malaysia Digital.

“The others are the special visa programmes, such as the Foreign Knowledge Worker pass and DE Rantau Programme; and the Premier Digital Tech Institutions, which establishes a pipeline of skilled talent by bringing together key industry players and institutions of higher learning,” he said.

Meanwhile, on the Tech Nexus event hosted by Endeavor Malaysia, Gobind said he believed the discussions among the panellists and technocrats would yield productive insights on breakthrough innovations, challenges, and opportunities in deep tech areas, as they relate to the government’s policy and regulatory environment and Malaysia’s digital future.

The one-day Tech Nexus event is aimed at fostering connections and embracing innovation among visionary founders and key industry players.

The gathering was also extended to 42Geeks, a prestigious organisation boasting more than 50 esteemed technocrats and founders hailing from the US, the Philippines, Saudi Arabia, Brazil, Japan and Singapore. 

Source: Bernama