Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
PUTRAJAYA: The Investment, Trade and Industry Ministry (Miti) is expecting to make one or two big announcements in the coming days as a result of the recent Cyber Security Bill 2024 that was passed in April.
Minister Tengku Datuk Seri Zafrul Abdul Aziz said the passing of the bill was important to the industry, as it protects and enhances the nation’s cyber security through compliance with specific measures, standards and processes in managing cyber security threats.
“However, I do admit that we are just building the infrastructure on artificial intelligence (AI), so I think we need time to compete with Singapore.
“But it has resulted positively, for example in the case of Microsoft, because that was one of the concerns raised before they (Microsoft) made their investment announcement (US$2.2bil investment in Malaysia’s cloud and AI transformation),” he said at a media briefing here on the National Semiconductor Strategy yesterday.
Tengku Zafrul said this when asked to comment about a report by East Asia Forum, where AI venture capital investment is largely (about 75%) concentrated in Singapore with (US$8.4bil) surpassing other big Asean economies. — Bernama
