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KKD focuses on attracting high-value foreign, domestic investments in digital field

KKD focuses on attracting high-value foreign, domestic investments in digital field

20 Jun 2023

The Communications and Digital Ministry (KKD), through the Malaysia Digital Economy Corporation (MDEC), is focusing on attracting high-value foreign and domestic direct investment in the digital field such as artificial intelligence (AI) and big data analytics.

Its deputy minister, Teo Nie Ching said other areas include the Internet of Things (IoT), blockchain, cybersecurity, drone technology, and creative media technology including augmented reality and mixed reality.

“Collectively, the government via MDEC has allocated a total of RM238 million under the 12th Malaysia Plan as a public investment into the nine sectors of the Malaysia Digital Catalytic Programmes (PEMANGKIN) with a focus on industrial development such as digital infrastructure, education, and providing skills to people to succeed in the digital economy.

“A total of RM45 million from the allocation is used to increase technological capabilities such as blockchain technology, automation, AI and others, while RM50 million of the total allocation is through digital matching grants,“ he said during a question-and-answer session at the Dewan Negara today.

He said this when replying to a question from Dr Wan Martina Wan Yusoff on the list of digital investment prospects that have been identified and the sectors involved in an investment worth RM1 billion under PEMANGKIN which was launched on April 17.

The nine digital sectors of special focus under PEMANGKIN are agriculture, tourism, content, health, cities, finance, services, trade and Islamic economy.

Source: Bernama