MDEC Targets New Markets To Bolster Malaysia’s Role As ASEAN Digital Gateway

From Nurunnasihah Ahmad Rashid

DUBAI, Oct 13 (Bernama) – The Malaysia Digital Economy Corporation (MDEC) is actively exploring new international markets as part of its strategy to position Malaysia as a leading digital economy hub. 

MDEC has established and continuously enhanced the business support ecosystem in facilitating the entry of Malaysian digital companies in 17 global markets with positive traction under the Gateway, Amplify, Invest and Nurture (GAIN) programme.

MDEC also has identified nine new markets and started to gain traction in four markets – Brazil, Kenya, Tanzania, and Spain – with digital export opportunities identified, said its head of digital industry acceleration, Wan Murdani Wan Mohamad.

“Although these opportunities are still in the early stages, we are working on strengthening partnerships and promoting Malaysian digital companies to ensure they can eventually convert these opportunities into real exports,” he said in an interview with Bernama in conjunction with the Expand North Star (ENS) 2024, here today.

Wan Murdani elaborated that MDEC’s strategy focuses on developing new partnerships and understanding the specific requirements of each market, noting that it typically takes two to three years for export initiatives to materialise.

On a broader scale, MDEC is also targeting the growing digital economy in ASEAN, which is projected to reach US$1 trillion (US$1=RM4.286) by 2030. 

Wan Murdani stressed the importance of leveraging ASEAN’s 647 million population and harmonising regional policies for cross-border trade and data flow. 

He said Malaysia must attract investments in key technology sectors such as artificial intelligence (AI), blockchain and cybersecurity to establish a strong digital footprint in the region.

“The investment strategy should focus on attracting digital investments not just for Malaysia but for the wider ASEAN market. 

“Malaysia has the potential to become the ASEAN Digital Hub,” he added.

Wan Murdani also said that MDEC is aligning its priorities with the Ministry of Digital’s key focus areas: digital infrastructure, cybersecurity and talent development.

He emphasised the need for a strong digital infrastructure to support the growth of the digital economy and ensure a trusted ecosystem with robust cybersecurity measures, making Malaysia a safe and attractive destination for businesses.

“Additionally, talent development is critical for sustaining digital growth, and MDEC is committed to reskilling and upskilling the local workforce to meet industry demands. 

“MDEC has designated over 15 institutions as Premier Digital Tech Institutions (PDTI) to produce skilled digital talent and is working with various government agencies to align digital skills development with national goals,” he said.

Wan Murdani said MDEC is also open to bringing in foreign talent through initiatives such as the Foreign Knowledge Worker Pass and the Malaysia Tech Entrepreneur Pass to complement our local talent pool.

The ENS, the world’s largest startup and investment show, takes place at Dubai Harbour from Oct 13-16, featuring over 6,500 exhibiting companies, 1,800 startups and 1,200 investors from more than 180 countries participating, including Malaysia.

– BERNAMA