Digital investments in Malaysia have hit a record RM163.6 B in 2024, against RM46.8 B in 2023. The jump was driven by a stable government and pro-business policies in reinforcing the country’s reputation as a regional tech hub, said the Malaysia Digital Economy Corporation (MDEC) in a statement.
Malaysia's attractions include a strong infrastructure and strategic public-private partnerships, plus a supportive regulatory framework and Malaysia’s push into AI and quantum computing, MDEC added.
These findings from MDEC follow on the heels of the Malaysian Investment Development Authority (MIDA) announcement that Malaysia secured RM378.5 B in approved investments last year — the highest in the nation’s history, a 14.9% year-on-year increase from the previous record of RM329.5 B in 2023.
Said MDEC CEO Anuar Fariz Fadzil: “Malaysia’s dynamic investment landscape cultivates strong collaboration among
government ministries and agencies, ensuring a coordinated effort to drive innovation, digital growth and long-term economic prosperity for the nation.”
Foreign investor confidence in Malaysia’s digital sector remains strong, with the top five highest foreign direct investment (FDI) inflows from Singapore (RM57 B), the US (RM23 B), China (RM12 B), Australia (RM2.6 B) and India (RM2 B).
Domestic direct investments (DDI) have also continued to rise, with MDEC playing a pivotal role through strategic initiatives and programmes such as Malaysia Digital (MD). The top five states by MD companies’ inflows were recorded in the Klang Valley (RM136 B), Johor (RM22 B), Penang (RM3 B), Sabah (RM423 million) and Sarawak (RM280 million), reflecting a nationwide push for digitalisation and economic expansion beyond central regions.
Investments in data centres and cloud infrastructure accounted for 76.8% of total approved digital investments in 2024, a sharp rise from 55.5% in 2023.
The establishment of a dedicated Data Centre Task Force, spearheaded by MITI Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz and Digital Minister Gobind Singh Deo, is set to drive further growth while ensuring it aligns with long-term sustainability goals, balancing expansion with environmental responsibility.
“MDEC stands steadfast in sustaining this strong investment momentum and working closely with MIDA to achieve the targeted 5% investment growth in 2025,” concluded Anuar.
MITI stands for the Malaysia Ministry of Investment, Trade and Industry.
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