Global investor chooses Malaysia for USD50 billion investment in tech sector

MELAKA: Prime Minister Datuk Seri Anwar Ibrahim today disclosed that a global investor plans to invest USD50 billion (USD1=RM4.08) in the artificial intelligence (AI), new technology and data centre sectors in Sarawak and Peninsular Malaysia.

He said the investor conveyed the intention during a recent video conference with him, describing the proposed investment as one of the largest in the region.

Anwar said this technology sector investment can create new and better job opportunities for Malaysians, particularly the younger generation, including students in schools and institutions of higher learning.

“Last Tuesday, one of the world’s largest investors held a video conference with me. The investor said he had chosen Kuching, Sarawak, and Peninsular Malaysia for an investment worth USD50 billion, one of the largest investments in the region.

“In which sectors? AI, new technology and data centre. This means that young people currently studying at universities and in schools must recognise that there will be new opportunities waiting, including better employment opportunities,” he said.

Anwar was speaking at the ‘Sentuhan Kasih MADANI’ Programme and launch of the National Cost of Living Action Plan 2030 (NCLAP30), held at the Hang Jebat Sports Complex here today. Also at the event was Domestic Trade and Cost of Living Minister, Datuk Armizan Mohd Ali.

The Prime Minister said international investors’ confidence in Malaysia must be maintained through the country’s political stability and leadership, as well as by ensuring a conducive environment for investment.

Anwar cited peace and harmony among Malaysia’s multiracial and multireligious communities as being one of the country’s strengths, saying it should be leveraged to attract more foreign investment.

“If people don’t have confidence in this government, and if the leadership is constantly quarrelling, investors will not be interested in coming here,” he said.

Meanwhile, Anwar said, Malaysia must continue strengthening its capabilities in emerging technologies, particularly AI, digitalisation and semiconductors, to ensure sustainable economic growth.

He said efforts to enhance workforce training and skills development are also crucial to enable Malaysia to move beyond back-end technology activities into the middle- and front-end segments, which offer higher added value.

However, Anwar stressed that the success in attracting investments and drive economic growth needs to be translated into real benefits for the people, including better job opportunities and higher standard of living. – BERNAMA