BUSINESS

MICROSOFT'S NEW INVESTMENT HIGHLIGHTS MALAYSIA'S APPEAL AS DIGITAL INVESTMENT HUB -- MIDA

02/05/2024 09:53 PM

KUALA LUMPUR, May 2 (Bernama) -- Microsoft Corporation’s ongoing investment in Malaysia underscores the country's allure as a prime digital investment destination, boasting a compelling ecosystem for companies looking to establish operations in the region.

Malaysian Investment Development Authority (MIDA) chief executive officer (CEO) Sikh Shamsul Ibrahim Sikh Abdul Majid said this continued investment endorses Malaysia's preparedness to emerge as a leading centre for technology, drawing significant interest from major tech enterprises.

"As digitalisation increasingly reshapes global economies, we welcome Microsoft’s announcement of new investments in Malaysia.

“We look forward to continuing to work with Microsoft to foster innovation in startups, create jobs, and harness the transformative power of artificial intelligence (AI) for the betterment of Malaysian society. AI now stands as a pivotal, game-changing technology that impacts us all,” he said in a statement.

Microsoft on Thursday announced a substantial US$2.2 billion (RM10.5 billion) investment in cloud and AI infrastructure over the next four years, aligning with the "Bersama Malaysia" initiative launched in 2021. 

This initiative aims to elevate Malaysia as a premier digital hub, bolstering economic growth and inclusivity through innovative technology.

Microsoft's chairman and CEO, Satya Nadella reportedly expressed the company's commitment to supporting Malaysia's AI transformation for the benefit of all Malaysians.

“We believe that Microsoft’s cloud and AI infrastructure will create a ripple effect of opportunities that bridge the digital divide while empowering businesses to thrive in the digital age,

“Malaysia has been taking steps to master and make good use of AI. By leveraging AI, this initiative promises to unlock new possibilities for innovation, economic growth and inclusivity,” said Sikh Shamsul Ibrahim.

He added Malaysia's robust commitment to digital infrastructure has laid a strong foundation for its journey towards digitalisation. 

With a substantial RM144.7 billion in digital investments approved from 2021 to 2023, including RM114.7 billion allocated to infrastructure, this underscores the nation's dedication.

“As the country advances, the rise of AI is poised to drive transformative changes across our digital ecosystem—from talent development to software applications and infrastructural enhancements, ensuring Malaysia remains at the forefront of innovation and progress.

“Guided by the New Industrial Master Plan 2030, aimed at developing economic complexity and a digitally vibrant nation, MIDA, as Malaysia’s principal investment promotion agency, will continue its mission to attract future-driven digital investments enriched with cutting-edge technology to nurture homegrown innovation,” he added.

-- BERNAMA

 

 


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