Malaysia

US tech giants including Microsoft Corp, Google and Nvidia Corp had already announced plans to build data centers in Malaysia in the past year, and Chinese firms are interested in developing more to serve the nation’s tech companies which want to enter the Southeast Asian market

The Ministry of Science, Technology and Innovation (MOSTI) has been working with Universiti Teknologi Malaysia and other representatives of government agencies, higher education institutions and industry players, to develop the framework.

Earlier on Monday, Prime Minister Anwar Ibrahim launched the KL20 Action Plan paper in conjunction with the inaugural KL20 Summit 2024.

MRANTI is headquartered at MRANTI Park, an extensive 686 acre 4IR innovation hub in Kuala Lumpur, supporting the growth of smart manufacturing, biotech, agritech, smart city, green tech and enabling technology clusters.

Minister Chang Lih Kang said the presentation aimed at detailing the guidelines and regulations that stakeholders in all sectors need to adhere to.

The government will also strengthen the venture capital environment through the centralization of venture capital agencies such as Penjana Kapital and MAVCAP under the sovereign wealth fund Khazanah Nasional Berhad.

It was reported that the government plans to make Kuala Lumpur a regional hub for startup companies and the digital industry to attract investments and digital talents, with the goal of positioning Malaysia among the top 20 countries in the global startup ecosystem by 2030, the report added.

Malaysia is vying with other Southeast Asian countries that are aimed at building new supply chains.

A check on App store's top charts on Thursday showed that ChatGPT now ranked number one on the list.

Other MOUs sealed were between Digital Way Group Sdn Bhd, China Silk Road Group Ltd and China Kairous Capital to jointly establish a Malaysia-China digital and development fund in China and Malaysia.