malaysiangDUBAI, Jan 12 — The announcement on Malaysia Digital at Expo 2020 Dubai today has been described as timely and relevant, as the improved processes and incentives will be crucial to accelerate Malaysia’s post-COVID-19 economic recovery, said Communications and Multimedia (KKMM) Minister Tan Sri Annuar Musa.
He said in line with the 12th Malaysia Plan (12MP), the revamped and enhanced Malaysia Digital will be key towards achieving the goals set forth by the Malaysia Digital Economy Blueprint (MyDIGITAL), which targets RM70 billion in investments by 2025.
“Following the earlier announcement (on Malaysia Digital), there are several other steps that we need to take including to detail the transformation we are doing from MSC Malaysia to Malaysia Digital.
“The KKMM will prepare a Cabinet paper on this soon and we expect the launch to be held in the second half of this year,” he told a press conference after the launch of the Malaysia Digital Economy Week in conjunction with Expo 2020 Dubai at the Malaysia Pavilion here today.
He said the government had not set any specific timeline for the implementation of Malaysia Digital, but the emphasis would be given to the implementation of policies to develop the country’s digital economy.
Malaysia Digital will offer greater agility for local and international tech companies by providing more options and flexibility for companies to choose from competitive fiscal and/or non-fiscal incentives.
It also seeks to expand beyond designated locations into a nationwide initiative, providing more flexibility and opportunity for companies to grow, expand, or reinvest anywhere within Malaysia.
As the MSC Malaysia successor programme, Malaysia Digital will feature improved governance and processes to meet the industries’ diverse needs at speed.
Malaysia Digital’s new framework will see among other improvements, a refresh of the Bill of Guarantees, non-location-based incentives, and an expansion of locations for MSC promoted activities.
Under the Malaysia Digital initiative, the Government and MDEC will also be introducing two initial catalytic projects, namely DE Rantau and Malaysia Digital Trade.
The Digital Economy Week is part of the 26 weekly thematic trade and businesses programmes organised by the Malaysia Pavilion for Expo 2020 Dubai.
MDEC is targeting to attract investments worth more than RM300 million as well as 50 eligible prospective businesses during the Malaysia Digital Economy Week from Jan 9 to 15.
Source: BERNAMA News Agency
