Malaysia poised to attract more US investments following Microsoft's RM10.5bil investment - MIDA | Malaysian Investment Development Authority
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Malaysia poised to attract more US investments following Microsoft’s RM10.5bil investment

Malaysia poised to attract more US investments following Microsoft’s RM10.5bil investment

07 May 2024

Malaysia is poised to attract more investments from United States companies in the wake of Microsoft’s recent RM10.5 billion investment, says Tengku Datuk Seri Zafrul Aziz.

Highlighting the need to bolster Malaysia’s technological infrastructure, he emphasised the importance of data storage, computing power, and network capabilities to attract high-technology industries. 

Following a productive meeting with Google chaired by Prime Minister Datuk Seri Anwar Ibrahim and attended by Digital Minister Datuk Gobind Singh Deo, Tengku Zafrul stressed the necessity of establishing a robust technological ecosystem to facilitate further investments.

“It was a good meeting with Google yesterday which was chaired by the prime minister, and attended by Digital Minister Datuk Gobind Singh Deo and I.

“There are three things needed for the industry which are data storage, computing power and network. And we need to build all these which requires investments in terms of technology and support.

“For high-technology companies to come in, we need a highway and we don’t have that. (Later on) when we have the structure, the ecosystem will come in (and invest),” he told reporters after the soft launch of the Myaero 3D visualisation and virtual augmented mixed reality lab at the Defence Services Asia and National Security Asia 2024 exhibitions.

While Malaysia was emerging as a data hub in Asean, Tengku Zafrul said the country’s increasing investment in data centres amounted to approximately RM100 billion last year. 

He said Malaysia’s commitment to sustainability further enhanced its appeal as a preferred destination for investments, with ongoing efforts to achieve net-zero targets.

“We are inviting more companies to achieve our net-zero targets,” he said.

Last week, Microsoft announced that it would invest RM10.5 billion over the next four years to support Malaysia’s digital transformation – the single largest investment in its 32-year history in the country.

Yesterday, Anwar held an online conference with the president and chief investment officer of technology (CIO) giant Alphabet & Google, Ruth Porat.

He said during the conference, Porat informed on the progress of the framework areas that Alphabet & Google could expand in Malaysia based on his previous explanation to her regarding the mission and focus of the Malaysian government.

Last year, former US Ambassador to Malaysia Brian McFeeters said US companies had made investment pledges totalling US$100 billion (RM465 billion) in various sectors in Malaysia over the last 18 months.

Source: NST