LONDON – The Communications and Digital Ministry has closed the curtain on its investment mission to London Tech Week (LTW) 2023 with the announcement of the Malaysia Digital Expo 2023 (MDX2023).
Its minister, Fahmi Fadzil, said it is important to keep the momentum going following significant achievements during LTW.
Malaysia secured a whopping RM8.3 billion worth of investment commitments in various digital technology sectors during the investment mission to LTW.
Feedback received during London Tech Week 2023 will be used as a basis for the Malaysia Digital Economy Corporation (MDEC) to further strengthen its ability to attract foreign investments into Malaysia, he said.
Spanning over the course of one week, MDX2023 will feature a diverse range of activities such as conferences, exhibitions, launch events, and award ceremonies, with top international speakers and renowned figures from the technology and digital realm.
It will serve as a collaborative platform and business avenue for visitors and industry players, both domestic and international, to immerse in the latest digital trends, advancements and initiatives that shape Malaysia’s digital economy.
Speaking at the Malaysia Digital Investors Networking Night earlier, Fahmi extended an invitation to all investors to explore the vast investment opportunities that Malaysia has to offer.
The networking night was held in conjunction with the LTW hosted by MDEC at the Battersea Power Station.
Fahmi said Malaysia has implemented forward-thinking policies and initiatives to foster digital innovation, create an enabling ecosystem and attract investments that will drive its digital economy forward.
As the country navigates the dynamic landscape of the fourth Industrial Revolution, Malaysia has embraced emerging technologies such as artificial intelligence, blockchain and the internet of things.
Malaysia offers a conducive environment for technology companies to thrive, with favourable regulatory frameworks, attractive fiscal incentives and a supportive government committed to facilitating digital companies to operate, grow, expand, or invest anywhere in Malaysia.
Additionally, Malaysia's strategic location in Southeast Asia positions it as a gateway to a market of over 650 million people, and with increasing rates of digital adoption, the opportunities for technology innovation and investments are boundless.
Earlier, Fahmi received a tour of the new riverside neighbourhood in central London, including the recently opened and restored Grade II listed Battersea Power Station.
“I have been to Battersea Power Station three times in 2019, 2020, and now today.
“It is amazing to see the journey and what can be achieved with Malaysian capital and talent, delivered in partnership with the UK.
“When we work together, we can achieve so much more, and Battersea Power Station is a testament to that. Congratulations!” he said.
Battersea Power Station is one of central London’s largest, most visionary new riverside neighbourhoods.
The regeneration project is seeing the creation of a vibrant, mixed-use destination offering a community of homes, shops, restaurants, offices, culture and leisure venues, as well as 19 acres of public space, all serviced by an extension to the London Underground Northern Line.
Also present during the visit were Battersea Project Holding Company Ltd chairman Tan Sri Jagan Sabapathy, Sime Darby Property group managing director Datuk Azmir Merican, SP Setia board director Jiv Sammanthan, British High Commissioner to Malaysia Charles Hay, and Gloucester MP and the UK prime minister;s trade envoy Richard Graham.
Since opening in October 2022, Battersea Power Station has welcomed nearly six million visitors through its doors and its success will continue with more retail openings this summer, including Apple Battersea.
Other brands that recently opened include LEGO® and the neighbourhood pasta restaurant, Noci.
Battersea Power Station is also home to Malaysian brands including pewter specialists Royal Selangor and authentic Malaysian restaurant Roti King.
Under the custodianship of its Malaysian shareholders – Sime Darby Property, S P Setia, and the Employees Provident Fund – which together form Battersea Project Holding Company, Battersea Power Station has been expertly restored to its former glory, and the wider area has been transformed into a vibrant community.
In 2019, leading fund management companies Permodalan Nasional Bhd and EPF became long-term commercial asset holders, securing the future of the landmark for many generations to come.
Meanwhile, Fahmi in a Twitter post said the country is on the right track as foreign investors’ confidence improves.
He shared a 57-second snippet on the networking night session.
In a video, UK-Asean Business Council chief executive officer Ian Gibbons described Malaysia as an absolute hotspot of digital technology.
“In terms of relationships, partnerships and collaboration, I can’t think of a stronger partner in Asean than Malaysia.
“We look forward to actually moving into Malaysia to visit the minister (during) the Asean summit,” he said.
Meanwhile, Gulbenkian Andonian Solicitors managing director Dave Vasoodaven said the networking session with the Malaysians representatives was very impressive.
“You rarely get a team of this class to come over here to present Malaysia in the most positive way.
“People like us (industry players) who have been here (London) for many years, we rarely get this sort of support as well.
“Now to me, we actually have a forum to work together.” – Bernama, June 15, 2023
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