Digital economy likely to contribute 25.5% to Malaysia’s GDP by 2025: Minister

Digital economy is expected to contribute 25.5% to Malaysia’s Gross Domestic Product (GDP) in 2025, and the country will attract major investments to data centres, innovation, and digital economy in the next few months, said Minister of Communications and Digital Fahmi Fadzil.

Fahmi said that with the current positive growth of the economy and upcoming investments, Malaysia can achieve the number earlier than expected.

Meanwhile, Vantage Data Centers, a US-based leading global provider of hyper-scale data centre campuses, has announced the development of a second data centre campus in Malaysia with an additional investment of 13.32 billion RM (3 billion USD).

The campus will be Vantage’s largest data centre in Southeast Asia and the region. Meanwhile, Leave A Nest will focus on innovation, problem-solving, and deep technology aspects with an investment of 20 million RM and an expected economic impact of up to 100 million RM.

Fahmi said that such an announcement is a positive signal proving that foreign investors still choose Malaysia as a favourite investment destination.

He said it is important to ensure sustainable investment by expanding the pool of local talent including programmers, animators, and entrepreneurs in the digital economy.

Source: Lao News Agency