Communications and Digital Minister, Fahmi Fadzil, has projected a bright future for Malaysia’s tech industry as investors’ confidence is on the rise. This development stands as a promise for an increased influx of investments in the country’s digital technology sectors.
Speaking at the monthly assembly of the Ministry of Communications and Digital (KKD), Fahmi revealed his optimistic conversation with global investors at the recently concluded London Tech Week (LTW) 2023. He emphasized their growing confidence in Malaysia’s investment landscape and political stability, which is a significant factor driving investments.
The mission to LTW 2023 was a successful endeavour for Malaysia, with the country securing investment commitments worth RM8.3 billion across various digital technology sectors. “Investors are responding positively to Malaysia’s direction. They see our potential as a focal point for investments,” said Fahmi.
Emphasizing collaboration among agencies and departments under the KKD, the Minister called for a collective effort to elevate digital products and creative industry content to international standards. He urged them to present a united front at international forums, such as the forthcoming LTW.
The goal, according to Fahmi, is to foster the growth of the digital economy’s export sector. He cited the National Film Development Corporation (Finas) and the Malaysia Digital Economy Corporation (MDEC) as examples of organizations that should consolidate their offerings to be showcased at such platforms.
Moreover, Fahmi highlighted the significance of Finas’ role in promoting films and creative industries to foreign markets, especially Southeast Asia, a region home to 650 million potential viewers. He acknowledged the need to leverage shared cultural ties to countries like Singapore, Indonesia, and Brunei for film exports.
“Although Malaysia’s movie-going population might not be large, tapping into these neighbouring markets could significantly expand our reach,” Fahmi stated.
Celebrating the successes of Malaysian films at the international level, Fahmi took pride in the recognition they received. He made specific mention of the indie film “Tiger Stripes,” which earned a historic win for the country at the Cannes Critics’ Week, and “Abang Adik,” a Malaysian film that received multiple awards at the 25th Far East Film Festival.
In conclusion, Fahmi’s perspective on the growing investors’ confidence underlines the surging potential of Malaysia’s tech and creative industries. It marks a promising future, fuelled by anticipated investments and international recognition.
This news is based on Malay News