5,331 companies have been granted Malaysia Digital status as of 31 March 2024

Of these, over 73% are local companies.

A total of 5,331 companies have been granted the Malaysia Digital (MD) status as of 31 March 2024. Of these, over 73% are local companies. 

The MD status is awarded to eligible companies that participate and undertake in any activity under Malaysia Digital. These companies are offered incentives, rights and privileges from the Government — subject to necessary approvals, compliance of applicable conditions, laws and regulations.

According to the Digital Ministry, as cited in Bernama, the local companies that have achieved this status explore and conduct activities in the provision of high-value digital products and services using the latest technologies such as artificial intelligence (AI), blockchain technology, Internet of Things (IoT), cyber security, financial technology (fintech) and drones.

Speaking on the statistics of local companies in the information technology field in the Dewan Rakyat, as further cited by Bernama, the Ministry affirmed: “Various incentives and benefits are also offered to MD companies to accelerate growth and increase spillover effects to the economy as well as strengthening the country’s digital ecosystem."

Through the Malaysia Digital Economy Corporation (MDEC), the Ministry is working to increase the potential and competitiveness of local companies in providing hi-tech products and services that can penetrate the global markets through the implementation of the Gateway Amplify Invest Nurture (Gain) programme.

According to Bernama's report, as of March 2024, as many as 300 companies have participated in this programme, recording a cumulative export total of RM11.265bn.

In similar news, Minister of Investment, Trade and Industry, Tengku Datuk Seri Utama Zafrul Abdul Aziz has also emphasised the importance of addressing the challenges faced in developing the right human workforce, especially in the engineering profession amidst Malaysia's move towards the execution of national economic plans — namely the New Industrial Master Plan (NIMP) 2030 and the National Semiconductor Strategy (NSS).

As cited in a separate Bernama article, Minister Zafrul said that Malaysia is currently involved with 16 free-trade agreements (FTAs), both bilaterally and multilaterally. 

"And in those FTAs, talent is the focus because we want the economic spillover effects to benefit the local communities."

Concurrently, he said per the article, the Government plans to be 'agile' and dynamic, utilising the 'whole of Government approach', involving all the relevant ministries in engagement sessions with the industry.

Lead image / 123rf.com