Investment Signals Rise in Regional Tech Landscape
According to Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic), this demonstrated Microsoft’s confidence in South-East Asia, and Malaysia’s strategic position as a gateway for growth.
“Microsoft chief executive officer Satya Nadella has met Prime Minister Datuk Seri Anwar Ibrahim together with a few of my Cabinet colleagues where he expressed his commitment to invest in the next four years, particularly in the areas of data centres and artificial intelligence,” the Investment, Trade and Industry Minister said.
He said this to Bernama on the sidelines of the Bernama Open House 2024, which was held here yesterday.
The American multinational corporation and technology company announced that it is committed to invest US$2.2bil (RM10.5bil) in Malaysia’s cloud and artificial intelligence (AI) and US$1.7bil in Indonesia.
“Microsoft’s investment in the infrastructure over the next four years will upskill 300,000 Malaysians and accelerate the nation’s digital transformation journey,” Tengku Zafrul said.
Earlier, the ministry said that the multinational move also supports Malaysia’s national initiative to embrace new enabling technology, including AI and generative AI, which could unlock US$113.4bil in productive capacity in Malaysia.
The investment will also power up the nation’s economic growth and inclusivity through innovative, cutting-edge technology, it said in a statement.
Malaysia’s steadfast commitment to robust digital infrastructure has convinced many globally recognised multinationals to establish or expand their presence here, as evidenced by the significant RM144.7bil in digital investments approved from 2021 to 2023.
Meanwhile, the Malaysian Investment Development Authority said that Microsoft’s ongoing investment in Malaysia underscores the country’s allure as a prime digital investment destination, boasting a compelling ecosystem for companies looking to establish operations in the region.
Its chief executive officer Sikh Shamsul Ibrahim Sikh Abdul Majid said this continued investment endorses Malaysia’s preparedness to emerge as a leading centre for technology, drawing significant interest from major tech enterprises.
“As digitalisation increasingly reshapes global economies, we welcome Microsoft’s announcement of new investments in Malaysia.
“We look forward to continuing to work with Microsoft to foster innovation in startups, create jobs, and harness the transformative power of artificial intelligence (AI) for the betterment of Malaysian society,” he said in a statement yesterday.
Microsoft’s substantial US$2.2bil investment in cloud and AI infrastructure over the next four years, aligned with the “Bersama Malaysia” initiative launched in 2021.
This initiative aims to elevate Malaysia as a premier digital hub, bolstering economic growth and inclusivity through innovative technology.
“We believe that Microsoft’s cloud and AI infrastructure will create a ripple effect of opportunities that bridge the digital divide while empowering businesses to thrive in the digital age.
“Malaysia has been taking steps to master and make good use of AI. By leveraging AI, this initiative promises to unlock new possibilities for innovation, economic growth and inclusivity,” Sikh Shamsul Ibrahim said.
He added that Malaysia’s robust commitment to digital infrastructure has laid a strong foundation for its journey towards digitalisation.
“As the country advances, the rise of AI is poised to drive transformative changes across our digital ecosystem-from talent development to software applications and infrastructural enhancements, ensuring Malaysia remains at the forefront of innovation and progress.”
Source Credit: https://www.thestar.com.my/news/nation/2024/05/03/investment-signals-rise-in-regional-tech-landscape
