No resting on laurels for Miti - MIDA | Malaysian Investment Development Authority
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No resting on laurels for Miti

No resting on laurels for Miti

06 May 2024

The Ministry of Investment, Trade and Industry (Miti) must be congratulated for bringing in US$2.2 billion (RM10.4 billion) in investments from Microsoft Corp, the tech giant’s largest outlay ever in its 32-year history in Malaysia.

In a statement, Microsoft says the investment includes building cloud and artificial intelligence (AI) infrastructure in Malaysia, creating AI skilling opportunities for an additional 200,000 people in the country, partnering the government to establish a national AI Centre of Excellence and enhance the nation’s cybersecurity capabilities, as well as supporting the growth of the country’s developer community.

Microsoft’s investment commitment is testament to Miti’s hard work and relentless efforts to attract investors. Without the ministry championing Malaysia among global investors, the country might be overlooked in favour of our regional counterparts.

Before the announcement was made by Microsoft chairman and CEO Satya Nadella on May 2, the tech giant disclosed a US$1.7 billion investment in Indonesia and said it was investing in a data centre in Thailand.

Had Miti not promoted Malaysia as an investment destination, other countries would have snatched a bigger share of the pie, leaving Malaysia with little to no investments from global giants.

Competition for investment among countries in this region is intensifying. Therefore, we must not rest on our laurels, but instead work harder to bring in quality investments that can develop and augment Malaysia’s capacity and capabilities.

Source: The Edge Malaysia