Malaysian global business services sector seen attracting RM89b digital tech deals by 2025 - MIDA | Malaysian Investment Development Authority
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Malaysian global business services sector seen attracting RM89b digital tech deals by 2025

Malaysian global business services sector seen attracting RM89b digital tech deals by 2025

06 Nov 2023

Malaysia’s global business services (GBS) sector is predicted to attract RM89 billion in digital technology deals by 2025, said Minister of Communications and Digital Fahmi Fadzil.

He was citing an index by the global consulting firm A.T. Kearney, which also stated that Malaysia ranks as the world’s third-most competitive GBS location, trailing only behind India and China.

“We have all it takes to usher in a golden digital era. With advanced infrastructure, including widespread 5G technology deployment, we are at the forefront of the digital revolution. Our well-developed physical infrastructure, modern logistics networks, and tech-ready urban centres make the country an attractive hub for digital innovation,” he said at the launch of the Malaysia Digital Expo (MDX 2023) Grand Finale by Malaysia Digital Economy Corporation (MDEC) today.

He mentioned notable data centre operators including Amazon Web Services (AWS), Microsoft, and Equinix Inc. which have chosen Malaysia to invest in.

“Malaysia is open for business, and the world is taking notice. Our commitment to digital transformation is evident as we secure technology commitments from across the globe,” he added.

He said that local animation studios have created over 65 original intellectual properties, resulting in an export value exceeding US$40.5 million (RM191 million) to date. Additionally, these studios have expanded their global footprint to over 120 countries.

Furthermore, Malaysian gaming studios have collectively generated over RM1 billion in annual export value, with over 100 studios contributing to this figure.

“Our gaming market and animation industry are thriving, with local studios making a global impact. Local animation studios, of which many are world-beaters including the likes of Les’ Copaque Production, makers of Upin & Ipin, and Animonsta Studios, producers of the award-winning Mechamato series continue to set the world alight with high-quality products,” he said.

In the startup arena, he said that local startups have generated RM767 million worth of export value.

“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 amongst the top 20 in the world,” he said. 

Source: The Sun Daily