MDEC unveils DIF5 Strategy to advance digital economy

MDEC said the DIF5 Strategy will also focus on five key emerging technologies – blockchain, dronetech, edge computing, extended reality and advanced robotics.

KUALA LUMPUR: The Malaysia Digital Economy Corp (MDEC) has unveiled its Digital Investments Future5 (DIF5) Strategy.

DIF5 is a plan focusing on five key thrusts aimed at attracting investments and advancing Malaysia’s digital economy in line with the Malaysia Digital Economy Blueprint (MyDIGITAL).

In a statement, MDEC said the five-year initiative from 2021 to 2025 following the 12th Malaysia Plan, aims to secure high-quality digital investments as it seeks to unlock new drivers of growth in the digital economy.

The DIF5 Strategy targets include RM50bil investments in the digital economy; attracting 50 Fortune 500 tech companies to land and expand in Malaysia; the establishment of five unicorns; and the creation of 50,000 high-value jobs in MSC Malaysia by 2025.

The DIF5 Strategy will also focus on five key industry sectors, five focused technologies, five emerging technologies and digital global business services.

“The five industry sectors that have been identified as key drivers are agtech, healthtech, Islamic digital economy and fintech, cleantech and edutech.

“Attracting and driving investments in five focused technologies are important to facilitate the growth of these sectors, namely cloud computing, data centre, artificial intelligence, cybersecurity and digital content tools.”

MDEC said the DIF5 Strategy will also focus on five key emerging technologies – blockchain, dronetech, edge computing, extended reality and advanced robotics.

“This is to drive innovation and ensure Malaysia will be at the forefront of the rapid evolution of digital technologies and development of a future-ready digital economy,” it added.

MDEC senior vice-president of investment and brand Raymond Siva said the agency is further streamlining and increasing its efforts to move the digital economy needle forward with the establishment of the Digital Investment Office – a collaborative platform with Malaysian Investment Development Authority and the execution of the DIF5 Strategy.

“We are witnessing an unprecedented growth in the digital economy and investment into this sector but we want to do better.

“We have all the necessary capabilities, capacities and facilities to drive Malaysia’s digital economy into high gear.

“With the Future5 Investment Strategy, we are further synergising our efforts and initiatives to push the nation forward towards achieving the goals set forth in the MyDIGITAL,” he said. — Bernama

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