Digital investment office to shape up nation's digital investment landscape

KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) and the Malaysia Digital Economy Corp (MDEC) have collaborated to facilitate digital investments via the establishment of the Digital Investment Office (DIO).

In a joint statement today, they said the role of the DIO is aligned with the MyDIGITAL Blueprint and the National Investment Aspirations, guided by the essence of the Shared Prosperity Vision 2030.

"The objective of this endeavour is to strengthen the coordination among all investment promotion agencies to attract new investments in this fast-evolving segment," they said.

The DIO was endorsed by the National Digital Economy and the Fourth Industrial Revolution Council (MED4IR) chaired by Prime Minister Tan Sri Muhyiddin Yassin.

Senior Minister cum International Trade and Industry (MITI) Minister Datuk Seri Mohamed Azmin Ali said the setting up of the DIO is timely as it will create a unique value proposition for upcoming digital investments.

"The digital economy is the engine of future growth for Malaysia.

"We are optimistic that with this structured governance in investment promotion and facilitation, Malaysia's digital ecosystem will be further strengthened and primed for the future," he said.

Mohamed Azmin added that the DIO is in line with the evolution of the regional investment landscape towards digitalisation and Industry 4.0, while simultaneously ensuring that the country remains competitive on the path to recovery post-COVID 19.

Meanwhile, MIDA chief executive officer (CEO) Arham Abdul Rahman said both agencies are committed to facilitating quality investments into the country, including digital investments.

"As the principal investment promotion and development agency of the country under MITI, MIDA looks forward to working closely with MDEC to accelerate the growth of digital investments.

"The collaboration will indirectly develop more highly skilled local professionals and groom digital global champions, and in the long run, this will enhance Malaysia's competitive advantage, offering undeniable pull factors for investors," he said.

MDEC CEO Surina Shukri said the DIO is a game changer as it will be the single point of contact for investors in Malaysia's digital economy.

"The DIO is a significant milestone for investment facilitation to attract high quality digital investments to benefit our businesses and people, in line with our Malaysia 5.0 agenda," she said.

-- BERNAMA