Malaysia Digital Economy Corporation (MDEC)

A government agency under the purview of the Ministry of Communications and Digital, was established in 1996 to lead Malaysia’s digital economy.

Categories

Technology  
Summary

The Malaysia Digital Economy Corporation (MDEC) is a government agency established to drive the growth of Malaysia's digital economy. Founded in 1996, MDEC operates under the Ministry of Communications and Multimedia Malaysia and serves as the main driver for the country's digital transformation efforts.

MDEC's primary goal is to foster the development and adoption of digital technologies across various sectors of the economy. The agency aims to transform Malaysia into a global digital hub by promoting innovation, supporting digital talent development, and attracting investments in the digital sector.

Key functions and initiatives of MDEC include:

Digital Innovation: MDEC supports the growth of innovative digital startups and companies by providing various programs, grants, and resources to encourage entrepreneurship and innovation.

Economic Growth: The agency aims to contribute to Malaysia's economic growth by driving digital adoption in traditional industries and enabling the expansion of digital businesses.

Talent Development: MDEC focuses on nurturing a skilled workforce for the digital economy. It offers training, education, and programs to enhance digital skills and capabilities among Malaysians.

Investment Promotion: MDEC plays a role in attracting local and foreign investments in the digital sector. The agency collaborates with businesses and investors to facilitate investment opportunities and promote Malaysia as a favorable destination for digital investments.

Ecosystem Building: MDEC works on building a thriving digital ecosystem in Malaysia by fostering collaboration between government agencies, businesses, academia, and other stakeholders. This collaboration is essential for a holistic approach to digital transformation.

Digital Infrastructure: The agency advocates for the development of robust digital infrastructure, including high-speed internet access and other technology-related facilities.

Global Outreach: The agency participates in international events, partnerships, and collaborations to showcase Malaysia's digital capabilities and connect with the global digital community.

Through its various initiatives, MDEC strives to position Malaysia as a competitive player in the digital economy on a regional and global scale. The agency's efforts contribute to creating job opportunities, increasing economic resilience, and driving overall societal progress through the adoption of digital technologies.


History

The Malaysia Digital Economy Corporation (MDEC) has a history that traces back to the late 1990s when Malaysia recognized the potential of digital technologies to drive economic growth and transformation.

MDEC's foundation dates back to 1996 when it was initially established as the Multimedia Development Corporation (MDC). The establishment of MDC was a response to the Malaysian government's vision of developing the country into a global hub for the multimedia and digital industry. The Multimedia Super Corridor (MSC), a designated area spanning 15 kilometers from the Kuala Lumpur city center, was set up to attract foreign investment and stimulate the growth of local technology companies.

During this period, MDC focused on developing the necessary infrastructure, policies, and initiatives to attract companies in the ICT (Information and Communication Technology) and multimedia sectors. The establishment of the MSC marked Malaysia's entry into the digital age, aiming to leverage technology to boost economic development.

In 2004, MDC underwent a rebranding and transformation, becoming the Malaysia Digital Economy Corporation (MDEC). This transformation reflected the agency's expanded mandate beyond multimedia to encompass the broader digital economy. MDEC continued to play a pivotal role in promoting ICT adoption, supporting digital entrepreneurship, and driving technological innovation in Malaysia.

During these years, MDEC launched various initiatives to promote digital adoption across different industries, foster tech startups, and attract foreign investment. The agency's efforts aimed to create a conducive ecosystem for the growth of the digital economy and position Malaysia as a global player in the digital space.

MDEC's focus intensified on driving digital transformation across sectors and preparing Malaysia for the challenges and opportunities presented by the Fourth Industrial Revolution. The agency emphasized the development of digital skills and talents, ensuring that Malaysians were equipped with the necessary capabilities to thrive in the digital era.

MDEC also began to concentrate on areas like e-commerce, big data analytics, artificial intelligence, and the Internet of Things (IoT). The agency's initiatives were designed not only to attract foreign investments but also to nurture local innovation and entrepreneurship.

Over the years, MDEC expanded its collaborations with various stakeholders, including government agencies, private sector partners, educational institutions, and international organizations. This collaboration was aimed at creating a holistic and synergistic approach to advancing Malaysia's digital economy.


Mission

MDEC's mission is to lead Malaysia's digital transformation for sustainable economic growth and innovation. The agency promotes digital adoption across sectors, nurtures entrepreneurship, develops digital talent, and positions Malaysia as a competitive player in the global digital landscape. MDEC aims to drive economic progress, enhance innovation, and empower Malaysians for success in the digital era.


Vision

MDEC's vision is to propel Malaysia into a vibrant and inclusive digital nation, where technology-driven innovation fuels economic prosperity, enhances societal well-being, and positions the country as a premier player in the global digital economy. The agency envisions a future where Malaysia harnesses the power of digital technologies to create a dynamic ecosystem that fosters innovation, empowers individuals and businesses, and contributes to the nation's overall growth and advancement.


Key Team

Datuk Fadzli Abdul Wahit (Head of Digital Industry Development)

Gopi Ganesalingam (Head of Digital Export)

Razif Aziz (Head of Business Services)

Shukor Ca(m) (Head of Corporate Services)


Products and Services

The Malaysia Digital Economy Corporation (MDEC) primarily offers a range of programs, initiatives, and services to support the growth and development of the digital economy in Malaysia. These products and services include:

Digital Adoption and Transformation Programs: MDEC designs and implements initiatives to encourage businesses, industries, and government agencies to adopt digital technologies and undergo digital transformation. These programs provide guidance, resources, and incentives to help organizations integrate digital solutions into their operations, enhance efficiency, and stay competitive.

Innovation and Entrepreneurship Support: MDEC supports the growth of digital startups and entrepreneurship through various programs. These may include incubators, accelerators, and funding opportunities that assist startups in their early stages, fostering innovation and contributing to the overall entrepreneurial ecosystem.

Talent Development and Digital Skills Programs: Recognizing the importance of a skilled workforce in the digital era, MDEC offers training programs, workshops, and educational initiatives to equip Malaysians with essential digital skills. These efforts are aimed at nurturing a digitally competent workforce capable of driving the country's digital economy.

Investment Promotion Services: MDEC plays a role in attracting both local and foreign investments in the digital sector. The agency connects potential investors with opportunities, provides information about the digital landscape, and assists in navigating the business environment in Malaysia.


References

 

 

Malaysia Digital Economy Corporation (MDEC)
Leadership team

Mahadhir Aziz (CEO )

Raymond Siva (Head of Digital Investment)

Industries

Technology

Products/ Services
Investment, Digital Project, Project Management
Number of Employees
500 - 1000
Headquarters
2360 Persiaran Apec, Cyberjaya, Selangor, 63000, Malaysia
Established
1996
Company Registration
0389346D
Social Media

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Sat Mar 02 2024
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