Malaysia Creates Digital Investment Office
May 08, 2021

Malaysia is setting up a new government entity to support the digital economy and the digitisation of businesses and administrative processes in the country.

The National Council of Digital Economy and Fourth Industrial Revolution, chaired by Malaysian Prime Minister Muhyiddin Yassin, has endorsed the establishment of a new entity, the Digital Investment Office (DIO), to facilitate digital investments in Malaysia.

The DIO is a fully-digital collaborative platform between the Malaysian Investment Development Authority and the Malaysia Digital Economy Corporation to coordinate and facilitate all digital investments, the latter institution said in a statement.

The objective was “to create awareness on digital investments in the country” and to strengthen the coordination among all investment promotion agencies in promoting and attracting new investments in this fast-growing industry, it said.

“Engine of future growth”

“The digital economy is the engine of future growth for Malaysia,” said Mohamed Azmin Ali, minister of international trade and industry.

“The setting up of the DIO is indeed timely in line with the evolution of the investment landscape in the region towards digitalisation and Industry 4.0, as it will create a unique value proposition for upcoming digital investments,” he added.

Arham Abdul Rahman, chief executive officer of the Malaysian Investment Development Authority, reiterated the ministry’s commitment to facilitate quality investments into the country, including digital investments.

“Our agency looks forward to accelerate the growth of digital investments, which will indirectly develop more highly-skilled local professionals and groom digital global champions,” he said, adding that the DIO would be a single point of contact for investors in Malaysia’s digital economy.