KKD’s UAE Initiative Secures RM600 Million Investment and Fosters RM330 Million in Export Opportunities

October 28, 2023

An investment commitment worth RM600 million and  export opportunities worth more than RM330 million were successfully achieved  by the Ministry of Communications and Digital (KKD) through Malaysia Digital  Economy Corporation (MDEC) during the investment and export mission to the United  Arab Emirates (UAE) led by the Minister of Communications and Digital Fahmi Fadzil.

The mission coincided with the Gulf Information Technology Exhibition (GITEX  Global 2023) and the Expand North Star (ENS) events.

This achievement stems from: 

  • Memorandum of Understanding (MoU) between MDEC and FINRAN; 
  • MoU between RightCliq Solutions and Secorbit-FZCO; 
  • MoU between Global Psytech and Cypherleak Limited;
  • MoU between HATI International Sdn. Bhd. and Arvensys Group;
  • MoU between HATI International Sdn. Bhd. and Xloopdigital;
  • MoU between Health Digital Technologies Sdn. Bhd. and Soukare;
  • MoU between Health Digital Technologies Sdn. Bhd. and MedikaBazaar;
  • MoU between Enviro Group and Disrupt-X; and
  • Business meetings between Malaysian tech companies and potential partners.

Meanwhile, Fahmi has also held discussions with DAMAC Group, a leading  conglomerate from the UAE, about investing in several strategic sectors, which include  the establishment of a data center in Malaysia. As of August 2023, Malaysia has  successfully gained foreign direct investment (FDI) commitments worth RM37.4  billion, cited a statement released by Malaysia Digital Economy Corporation (MDEC) today (Oct 19).

The success represents a strong validation of Malaysia’s growing digital capabilities as well as the unwavering confidence of investors in the robust framework provided  by Malaysia Digital (MD), a national strategic initiative aimed at driving accelerated  growth of the digital economy and generating opportunities for its people, aligned with Ekonomi MADANI and the New Industrial Master Plan (NIMP) 2030.

Overall, Twelve high-tech Malaysian companies participated in GITEX Global 2023 and ENS, which also aimed at establishing a platform to foster collaborations between nations on top  of providing participants with the opportunity to engage, expand their reach, and  showcase the best digital solutions, products, and services.