DIF5 STRATEGY ATTRACTS RM213.95 BLN INVESTMENTS, 710 COMPANIES KEEN TO INVEST IN MALAYSIA -- GOBIND

KUALA LUMPUR, Dec 16 (Bernama) -- The Digital Investments Future5 (DIF5) Strategy, a five-year initiative (2021-2025) implemented by Malaysia Digital Economy Corporation (MDEC), has attracted investments totalling RM213.95 billion as of the third quarter of 2024.

Digital Minister Gobind Singh Deo said it has drawn interest from 710 new companies to invest in Malaysia and created 76,429 new job opportunities up to the quarter.

"The achievement reflects investors' confidence in Malaysia as an investment destination for digital technology companies," he said during the question-and-answer session in the Dewan Negara today.

He was replying to Senator Rita Sarimah Anak Patrick Insol, who wanted to know the ministry's achievement to date through the DIF5 Strategy aimed at creating 50,000 high-value jobs as well as the challenges faced in implementing this strategy.

Gobind said the Digital Ministry, through MDEC, provides several programmes to tackle the digitalisation challenges.

He said that as of November 2024, the Malaysia Digital (MD) Workforce Training Directory offered 219 well-received courses and certification programmes which were specially created and recognised by digital industry experts, including on artificial intelligence (AI), data science, cyber security, animation and cloud computing.

"The MD Workforce Training initiative, which has attracted a total of 4,644 participants as of November, is aimed at encouraging local workers to enhance their skills as well as providing retraining in courses or certification programmes related to technology such as AI, cloud storage, data science and animation.

"(Meanwhile,) the MD Workforce Place & Train programme has seen 2,481 participants up to November this year. It is aimed at empowering unemployed individuals with advanced digital skills such as digital marketing, cyber security and data centre aspects in collaboration with selected industry partners," he added.

Meanwhile, Deputy Investment, Trade and Industry Minister Liew Chin Tong told the Dewan Negara that the government has approved total investments of RM1.1 trillion in the manufacturing, services and primary sectors in the 2020-2023 period.

This involved 18,945 projects that are expected to create 487,648 new job opportunities, he said.

Liew disclosed that of the approved investments, foreign investments amounted to RM624.6 billion (58.1 per cent) while domestic investments totalled RM449.5 billion (41.9 per cent).

"The five states that attracted the highest investments during 2020-2023 were Penang (RM187.8 billion or 17.5 per cent), Selangor (RM183.7 billion or 17.1 per cent), the Federal Territory of Kuala Lumpur (RM138.1 billion or 12.9 per cent), Johor (RM137.9 billion or 12.8 per cent) and Kedah (RM115.2 billion or 10.7 per cent).

"They (collectively) accounted for 71 per cent of the overall approved investments for the period," he said in response to a query from Senator Manolan Mohamad who wanted to know the total foreign direct investment and domestic direct investment from 2020 to 2023 as well as investments for each state.

-- BERNAMA