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Malaysian digital firms rake in RM767 mil in exports – Fahmi Fadzil

Malaysian digital firms rake in RM767 mil in exports – Fahmi Fadzil

06 Nov 2023

Local companies in the digital technology industry have generated RM767 million of export value to Malaysia’s economy, said communications and Digital Minister Fahmi Fadzil.

Fahmi said in the startup arena, companies like Aerodyne and Meraque are gaining international recognition.

“Aerodyne is ranked number one by Drone Industry Insights in its ‘Drone Service Provider Ranking 2021 and 2022’, while another drone company, Meraque, ranks among the top 20 in the world.

“I am proud to announce that our local companies have generated RM767 million worth of export value,” he said at Malaysia Digital Expo (MDX) 2023 Grand Finale.

Meanwhile, Fahmi said Malaysia’s gaming market and animation industry is thriving with local studios making a global impact.

He said to date, local animation studios have produced more than 65 original pieces of intellectual property, creating over US$40.5 million in export value while at the same time expanding their presence to more than 120 countries.

“Over RM1 billion in annual export value has been generated through over 100 Malaysian gaming studios,” he said.

Malaysia Digital Economy Corporation (MDEC) chief executive officer Mahadhir Aziz said the corporation is setting a new direction for Malaysia’s digital ecosystem, focusing on self-reliance and innovation while reducing dependency on grants.

Mahadhir underlined the necessity of moving away from what he referred to as the ‘grantrepreneur’ mindset, where businesses solely rely on grants without taking proactive steps to innovate and address market needs.

“We have been trying so hard to move away from the mindset that we call ‘grantrepreneur.’ People will just wait for something like this, without doing anything.”

“Look at the success of local businesses like Aerodyne and carsome, what is common among those companies, they were never initial beneficiaries of any Malaysian grant,” he said.

However, Mahadhir said while MDEC is committed to nurturing self-sufficiency, the organisation will continue to focus on grants for specific purposes.

These grants will be directed towards initiatives that create new intellectual property and foster competition in the digital creative content space, he added.

The MDX 2023 Grand Finale marks the culmination of a six-week empowerment journey through 18 auxiliary events that commenced on September 25, 2023. MDX 2023 has garnered significant attention, with a total of 120,000 participants engaging in the event.

Over the course of three days, industry experts will share their insights through a series of conferences and networking sessions.

The MDX 2023 Grand Finale will also include an exhibition and an exclusive MDX 2023 Awards Night to celebrate the outstanding innovations and achievements within the local digital technology ecosystem.

Source: NST