By S BIRRUNTHA / Pic by TMR FILE PIX
The proposed Digital Investment Office (DIO) spearheaded by the Malaysian Investment Development Authority (MIDA) is expected to shape up the country’s digital investment landscape.
The DIO is a fully digital collaborative platform between MIDA and the Malaysia Digital Economy Corporation (MDEC) to coordinate and facilitate all digital investments.
The objective is to create awareness on digital investments in the country, as well as strengthen the coordination among all Investment Promotion Agencies (IPAs) in promoting and attracting new investments in this segment.
MIDA CEO Arham Abdul Rahman (picture) said both agencies are committed to facilitate quality investments into the country, including digital investments.
He added that the establishment of DIO builds upon Malaysia’s aspiration to become a digital hub in the region.
“As the principal investment promotion and development agency of the country under the Ministry of International Trade and Industry (MITI), MIDA looks forward to work closely with MDEC to accelerate the growth of digital investments, which will indirectly develop more highly skilled local professionals and groom digital global champions.
“In the long run, this will enhance Malaysia’s competitive advantage, offering undeniable pull factors for investors, both foreign and local alike,” he said in a statement today.
Meanwhile, MDEC CEO Surina Shukri noted that the DIO is a game changer as it will be the single point of contact for investors.
She said it is a significant milestone for the investment facilitation, combining MIDA’s global infrastructure and MDEC’s expertise in the digital economy ecosystem to attract high quality digital investments to benefit businesses and people, in line with its agenda of Malaysia 5.0.
This collaborative effort between MIDA and MDEC is also expected to cater to the rapidly growing digital industries’ needs to anchor global technology leaders, build local champions, and nurture future-ready talent in Malaysia.
In the long term, with the shift in the global digital landscape, the government anticipates the DIO to play a vital role to position Malaysia as the preferred digital hub and firmly establish the country as the heart of digital Asean in the Southeast Asian economic region.
The National Council of Digital Economy and Fourth Industrial Revolution (MED4IR) chaired by Prime Minister Tan Sri Muhyiddin Yassin yesterday endorsed the establishment of the DIO.
The role of DIO is believed to be consistent with the MyDIGITAL Blueprint and the National Investment Aspirations, guided by the essence of the Shared Prosperity Vision (SPV) 2030.