Malaysia Wants China To Invest More In Local Digital Economy

Malaysia sees China as an important partner in the digital economy and telecommunication industry.
(credit: Malay Mail)

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The second-richest nation in the world is China, and Malaysia is home to many Chinese corporations. For example, Huawei and Xiaomi, two enormous information and communications technology corporations with offices all over the world, are the most well-known in the tech sector. We unquestionably benefited greatly from their investments in Malaysia.

According to Malaysian Foreign Minister, Datuk Seri Saifuddin Abdullah, Malaysia welcomes increased Chinese investment in the digital sector.

He emphasised the value of the two nations cooperating more closely in the sectors linked to the digital economy and cooperation between the telecommunications businesses during a press conference on Tuesday (12 July) with his Chinese counterpart, Wang Yi, China State Councillor.

I have impressed upon his excellency (Wang) that we take the digital economy as a premium, as the way forward to rebuild our economy and sustain our future growth.

Malaysian Foreign Minister, Datuk Seri Saifuddin Abdullah

Also, the East Coast Rail Link (ECRL) project, the “Two Countries, Twin Parks” initiative, and the Automotive Hi-Tech Valley collaboration were all topics of conversation, according to Datuk Seri Saifuddin Abdullah.

As we all know the ECRL is a project that is going to be realised and we have started working on it. Under the twin parks project, again, China is celebrating the 10th Anniversary of the Establishment of China-Malaysia Qinzhou Industrial Park this year.

Malaysian Foreign Minister, Datuk Seri Saifuddin Abdullah

In the meantime, he claimed, Malaysia is getting ready for its sister industrial park, Malaysia-China Kuantan Industrial Park (MCKIP), to celebrate its tenth anniversary in 2023 through Miti and the Pahang state government.

Besides that, Datuk Seri Saifuddin Abdullah and Wang Yi witnessed the signing of the Memorandum of Understanding between Hunan Broadcasting System and Media Prima Omnia Sdn Bhd as well as the handover of a document between the China Meteorological Administration and the Malaysian Meteorological Department on the CMAcast system, which uses Chinese satellite technology known as Digital Video Broadcast to transmit meteorological data.

Both parties anticipated more high-level visits in the upcoming years in order to foster stronger mutual trust between the two nations.

Malaysia recently introduced Malaysia Digital, which replaced MSC and has a new goal of fostering the growth of the digital economy. If you want to read more about it, you can go here.

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