DATA CENTRES MAKE UP THE BULK OF RM144.7 BLN IN APPROVED DIGITAL INVESTMENTS

KUALA LUMPUR, April 24 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) announced today that of the RM144.7 billion approved digital investments between 2021 and 2023, data centres make up RM114.7 billion, creating 39,231 job opportunities.

Its minister Tengku Datuk Seri Zafrul Abdul Aziz said that in 2021 the approved investments were RM3.4 billion, RM80.8 billion in 2022 and RM60.5 billion last year coming from various organisations including Amazon, GDS, YTL and ByteDance. 

While approved investments are vital to build up the momentum, he said MITI also gives strong focus on realised investments.

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He said that from 2021 to February 2023, there were 2,386 manufacturing projects approved by the National Committee on Investments. From the 1,802 or 75.5 per cent of the projects implemented, 1,597 projects were at the inception stage and 205 are at the construction of buildings or manufacturing facilities stage. 

Out of the approved projects, 551 (23.1 per cent) were in the planning stage, while 33 or 1.4 per cent were not implemented due to a change in the respective companies’ strategy, said Tengku Zafrul at the press conference to announce MITI’s first quarter report card here today.

The ministry, he said, will continue to focus on both domestic and foreign direct investments.

As for the performance of the Project Implementation and Facilitation Office (TRACK), he said a total of 802 cases facilitated since its establishment with key issues linked to Customs, power supply, one stop centre -local council and immigration.

On the trade outlook, Tengku Zafrul said trade is set to improve in 2024, but challenges remain amid geopolitical uncertainties.

-- BERNAMA