Malaysia has recorded remarkable growth in foreign investment, especially in the technology sector.
In 2023 alone, approved investments reached RM329.5 billion, a 23% increase over the previous year.
This trend is set to continue in 2024, with investments recording RM160 billion in the first six months.
Major global technology firms such as Amazon Web Services, Microsoft, Google and Oracle have announced their investment plans totaling US$16.9 billion (RM74.5 billion).
In addition, Nvidia is working with YTL Power International Malaysia in an effort to develop AI infrastructure, including a US$4.3 billion (RM19 billion) data center in Johor.
Malaysia’s appeal as a technology hub stems from its skilled workforce, excellent infrastructure and business-friendly policies.
Initiatives such as the National Energy Transition Roadmap and the National Semiconductor Strategy demonstrate the government’s commitment to digital transformation.
By 2025, Malaysia aims for the digital economy to contribute 25.5% to GDP, creating 500,000 jobs.
