Mida on track to secure RM70bil target for digital investments

PETALING JAYA: The Malaysian Investment Development Authority (Mida) is on track to achieve its RM70bil target for digital-related investments, in line with the Malaysia Digital Blueprint’s (MyDigital) strategies.

With robust strategies in place to ensure that digital-related investments remain competitive in the country, the Digital Investment Office (DIO), a collaborative platform between Mida and Malaysia Digital Economy Corp (MDEC), had successfully facilitated a total of RM66.47bil in investments as of September 2022, which is over 99% of the target under the MyDigital initiative.

Notable data centre and data hosting projects approved, including the People’s Republic of China’s Bridge Data Centres Malaysia III Sdn Bhd and ByteDance System Sdn Bhd, as well as Malaysian public-listed company YTL Power International Bhd, are testament to Malaysia’s readiness to host more digital investments projects.

Mida executive director (services development) Zuaida Abdullah said digital adoption among businesses in the country was accelerating, although it was still low among small and medium enterprises (SMEs) due to barriers such as technology costs and the absence of digital strategies.

“Digitalisation by businesses is more common today. Although the journey can be challenging for SMEs, they should embrace technological advancements such as artificial intelligence, Internet of Things and Big Data.

“To this end, Mida is facilitating industry players in their digital transformation journey in order to reduce the digital divide between Malaysian SMEs and multinational companies in Malaysia,” she told Bernama in an exclusive interview recently.

Mida collaborated with the Malaysia Productivity Corp and Intel Malaysia to launch the “AI for SMEs (AI4S) Programme” proof of concept project compilation booklet on June 22, 2022, which featured 31 completed pilot projects.

A total of 100 SMEs were selected to participate in the programme, where they underwent a comprehensive technology-enabling process and training to implement personalised pilot projects for their businesses to jump-start their AI technology adoption journey.