Expo 2020 Dubai: Malaysia Digital crucial to accelerate nation's economic recovery - Annuar - MIDA | Malaysian Investment Development Authority
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Expo 2020 Dubai: Malaysia Digital crucial to accelerate nation’s economic recovery – Annuar

Expo 2020 Dubai: Malaysia Digital crucial to accelerate nation’s economic recovery – Annuar

14 Jan 2022

The Ministry of Communications and Multimedia (KKMM), together with Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency, have kicked-off the Malaysia Digital Economy Week at Expo 2020 Dubai.

Communications and Multimedia Minister Tan Sri Annuar Musa said the announcement of Malaysia Digital in Expo 2020 Dubai is timely and relevant as the improved processes and incentives will be crucial to accelerate the country’s economic recovery from the COVID-19 pandemic.

“In line with the Twelfth Malaysia Plan (12MP), the revamped and enhanced Malaysia Digital will be key towards achieving the goals set forth by the Malaysia Digital Economy Blueprint (MyDIGITAL), which targets RM70 billion in investments by 2025,” he said in a statement today.

The Digital Economy Week, happening from Jan 9-15, 2022 at the Malaysia Pavilion of the world expo, is set to generate RM300 million worth of potential trade and investment opportunities, as well as securing 50 business leads from across the globe.

The Digital Economy Week marks the soft launch of Malaysia Digital, the enhanced and revamped programme succeeding the MSC Malaysia, which has been in operation for 25 years.

The new and enhanced initiative will serve to accelerate Malaysia’s digital economy and create substantial digital economic spill-over through equitable access to digital tools, knowledge, and income opportunities.

Malaysia Digital is also set to enhance Malaysia’s value proposition to attract digital investments through a new framework centred on three primary components: Agility, Flexibility, and Relevance.

Malaysia Digital will offer greater agility for local and international technology companies by providing more options and flexibility for companies to choose from competitive fiscal and/or non-fiscal incentives.

Malaysia Digital’s new framework will see, among other improvements, a refreshed Bill of Guarantees, non-location-based incentives, and an expansion of locations for MSC promoted activities.

Under the Malaysia Digital initiative, the Government and MDEC will also be introducing two initial catalytic projects, namely DE Rantau and Malaysia Digital Trade.

DE Rantau is a programme with the goal to establish Malaysia as the preferred Digital Nomad Hub in a bid to boost digital adoption and to promote digital professional mobility and tourism across the country.

Malaysia Digital Trade, on the other hand, is one of the catalytic initiatives under Malaysia Digital to capitalise on the immense opportunities in digitalisation that has been accelerated by the recent COVID-19 pandemic.

Meanwhile, MDEC chief executive officer Mahadhir Aziz said the new projects are powered by the corporation’s mission to drive the digital economy through catalytic, high-impact initiatives, as well as strategic and sustainable investments and inclusive policies.

“Malaysia Digital will be the fuel to skyrocket the digital economy to new heights, as well as to nurture a progressive, equitable, and innovation-led digital economy in line with the United Nation’s Sustainable Development Goals,” he said.

The Digital Economy Week is part of the 26 weekly thematic trade and business programmes organised by the Malaysia Pavilion for Expo 2020 Dubai.

Source: Bernama