Google's US$2b investment reflects investors’ strong confidence in govt: Fahmi - MIDA | Malaysian Investment Development Authority
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Google’s US$2b investment reflects investors’ strong confidence in govt: Fahmi

Google’s US$2b investment reflects investors’ strong confidence in govt: Fahmi

30 May 2024

Google’s investment of US$2 billion (RM9.4 billion) in Malaysia is a positive indicator that investors have strong confidence in the administration of the Madani Government, said Communications Minister Fahmi Fadzil.

Hence, he said this should also serve as a motivation for Malaysia to increase work productivity while also moving smarter to lure more investments into the country.

“I was informed that several destination countries were also under their (Google’s) consideration.

“I believe that after several meetings (with Google), including with me, what we conveyed and our performance were evaluated positively, leading to the announcement of this investment from Google,” he told reporters after attending the Ministry of Communications’ monthly assembly here today.

Fahmi, who is also the Unity Government spokesman, said the rapid realisation of this investment also demonstrates the Madani Government’s commitment to having a clear direction as desired by investors.

Google announced today an investment commitment of RM9.4 billion in Malaysia, including the development of Google’s first data centre in Malaysia and the Google Cloud Region to meet the growing demand for cloud services, both locally and globally, as well as an artificial intelligence (AI) literacy programme for students and educators in this country.

Meanwhile, the Ministry of Education (MoE) said Google’s investment will provide added value to efforts to improve the AI literacy programme for the benefit of students and teachers.

The MoE, which welcomed Google’s announcement, said the investment would also meet the growing needs of cloud computing.

“Initiatives like the ongoing Gemini Academy and Experience AI are in line with the Digital Education Policy (DPD), which aims to produce a digitally fluent and competitive generation.

“This is implemented through the improvement of knowledge, skills and values of students, educators and education leaders; the provision of quality digital infrastructure, infostructure and content; and the active participation of strategic partners in an integrated and comprehensive manner from pre-school to high school,” it said in a statement.

In this context, the MoE said cooperation with technology leaders like Google is crucial to enhance the implementation of the DPD and ensure the success of national education reform efforts. 

Source: Bernama