Digital Investment States Summit 2022 fosters one-nation approach in attracting investments

• Sharing Malaysia National Digital Investment Strategy, aligning state IPAs
• Each IPA in Malaysia tremendously important in driving digital investments

The Malaysia Digital Economy Corporation (MDEC), recently organised the Digital Investment States Summit 2022, a three-day event aimed at promoting Malaysia as the digital investment hub of Southeast Asia.

The Summit, which took place from 29 to 31 March and supported by the Malaysian Investment Development Authority (MIDA) through its Digital Investment Office (DIO) initiative, was focused on sharing the Malaysia’s National Digital Investment Strategy and aligning investment pursuit strategies with each of the state’s Investment Promotion Agencies (IPAs).

Additionally, the Summit aimed to bolster the country’s digital investment aspirations and value proposition, and ultimately create a one-nation approach to ensure synergy and collaborations in attracting digital investments to Malaysia.

Mohammad Mentek, Secretary General, Ministry of Communications and Multimedia Malaysia (K-KOMM), said the Ministry believes that a robust and thriving digital investment ecosystem requires a nationwide effort.

“The Digital Investment States Summit 2022 will serve as a platform to foster the collaboration crucial towards making Malaysia a prime digital investment destination, spurring investment by developing new key sectors across the country.”

The Digital Investment States Summit 2022 drew representatives from Federal IPAs, State IPAs, and the State Government’s Economic Planning Unit (UPEN) across the nation.

This includes the Central Region’s Invest KL and Invest Selangor; the Northern Region’s Invest Penang and Invest Perak; the East Coast’s UPEN Pahang, Kelantan, and Terengganu; the Southern Region’s Invest Johor and Invest Melaka; and East Malaysia’s Sarawak Digital Economy Corporation (SDEC) and Invest Sabah.

The Summit provided an opportunity for IPAs to share and discuss their state investment plans, including a detailed mapping of each states’ digital investment value proposition and focus areas, culminating in a national investment strategy that benefits the entire country.

Arham Abdul Rahman, CEO of MIDA, was encouraged to see the IPAs of each state actively present during the Summit and demonstrating the importance of cultivating digital investment aspirations among Malaysia’s IPAs.

“MIDA, in collaboration with MDEC, has been attracting and facilitating investors in bringing high quality digital investments through the DIO initiative. This is also in line with the MyDIGITAL Blueprint and National Investment Aspirations (NIA) in transforming new and existing economic clusters into digital enablers, creating high income jobs, and encouraging digital upskilling of the local workforce and businesses.” he added.

Additionally, the Summit featured engaging talks and panel discussions by investment authorities and industry experts in Malaysia, including sessions with Mahadhir Aziz, CEO of MDEC; Lim Bee Vian, Deputy CEO of MIDA (Investment Development); and Fabian Bigar, CEO of MyDIGITAL Corporation.

“The Summit is aligned with MDEC’s aspirations as part of the Malaysia Digital initiative, which is to expand digital investments beyond designated locations into a nationwide engagement. Each IPA in Malaysia is tremendously important in driving digital investments to Malaysia – imagine what we can do through the power of collaboration in growing Malaysia’s digital economy,” said Mahadhir Aziz, CEO of MDEC.

The Digital Investment States Summit 2022 established an ideal platform for amplifying investment multiplier effects, delivering high quality economic benefits to Tier 2 states and beyond, and expediting the country’s digital transformation progress.