MDEC’s Malaysia Tech Month 2020 Spotlights nation as Global Investment Destination

• Month-long initiative showcases efforts to expand digital economy in region
• Goal to fortify confidence in country as compelling digital & tech investment hub

This week sees the Malaysia Digital Economy Corporation (MDEC) kicking off its month-long campaign – Malaysia Tech Month 2020 (MTM 2020), a purpose-built initiative that showcases the nation’s robust and versatile digital and technology ecosystems. Capitalising on demands and opportunities in the era of the Fourth Industrial Revolution (4IR), MTM 2020 – MDEC’s capstone event – aims to reinforce Malaysia's position as a first-mover for the digital economy.

The event is set to attract startups; entrepreneurs; corporate organisations; government stakeholders; small- and medium-sized enterprises (SMEs), micro SMEs; and both local and foreign tech sector leadership.

While MTM 2020 has its own conference, it is also the overarching umbrella platform for several events. This includes marque events that MDEC is organising and other tie-in programmes from ecosystem partners. The end-goal for MTM 2020 – to fortify confidence in Malaysia as a compelling digital and tech investment hub.

Key events among the figurehead-led programmes from business, investment and regulatory communities are the data ecosystem focused DataKITA.Pulse conference; Digital Investment Summit; MyDroneTech Festival; and TechFest LIVE! Road to WCIT Malaysia.

Also included are Malaysia’s current efforts to produce a future-ready workforce, develop world-first innovations and establish alliances that are fully committed to advancing the digital economy.

“My ministry has constantly pushed the digital economy agenda for the benefit of the people and investors through the various virtual conferences that MDEC organised over the last few months. These events include E-Dagang Expo for the e-commerce sector, the SME Digital Summit, #MYDigitalWorkforce Week and ongoing LEVEL UP KL 2020 – all of which took place in the last six months and had received overwhelming response,” said Saifuddin Abdullah (pic), Minister of Communications and Multimedia Malaysia.

This interest, the minister states, clearly shows there is a surging demand for digital solutions and content that will ensure all Malaysians and local businesses can go digital and be ready to tackle the havoc this pandemic had caused. “The month-long MTM will also serve as the clarion call for global digital and tech industries to consider Malaysia as the go-to for digital sector investments,” Saifuddin professed.

Based on current statistics from the Department of Statistics, Malaysia’s digital economy is expected to contribute 20% to the economy by 2020 with the e-commerce sector expecting to exceed RM110 billion in revenue by 2020. This is equivalent to 40% of the nation’s digital economy.

With 4IR powered technologies and innovations, like artificial intelligence (AI), robotics and the Internet of Things (IoT), proliferating and catalysing shifts in consumption; daily activities and lifestyles; and workspace operations, there is a heightened need to ensure that all segments of society can effectively participate and reap the benefits of digitalisation.

“Malaysia is well on its way to integrate digital technologies into all areas of its economy and MDEC believes the next step is to carve Malaysia’s position as the ‘Heart of Digital ASEAN’,” said Surina Shukri, CEO of MDEC. “MTM 2020 best demonstrates our strategic interventions as the ‘winning-formula’ that will set the course forward for Malaysia, bringing the country closer to becoming an exemplary, digitally-powered nation that will thrive in the 4IR and deliver shared prosperity for all.”

As the capstone event, MTM 2020 will further reinforce MDEC’s efforts to drive forward its three core pillars – foster digitally-skilled talent and improve their readiness, forge digitally-powered businesses en-route to being global tech champions, and further empower a digital-sector investor-friendly environment. The latter is the most critical as it quickly and seamlessly facilitates foreign investments and, at the same time, is highly supportive of multi-national expansion efforts into the ASEAN economic zone.

“The digital transformation of a nation can be described as a journey, requiring specific initiatives to reach key demographics and meet those unique needs. As is, there must now be a crucial driver to boost economic growth as expectations are high for the digital economy to steer the nation in this pandemic-impacted economy into 2021. MDEC, via MTM 2020, will continue to serve as an extension of the government’s ongoing efforts to spur the digital economy,” added Surina.