Who is Malaysia Digital Economy Corporation (MDEC)?
MDEC was established in 1996 as the lead agency in charge of carrying out the MSC Malaysia initiative. Today, company is a Ministry of Communications and Multimedia Malaysia (KKMM) agency with a nearly 25-year track record of successfully leading Malaysia's ICT and digital economy growth.
Malaysia's central geographical location in ASEAN, its young and digitally-savvy population, multicultural and multilingual tapestry, easy access to capital and regional markets, ease of doing business, certainty of business operating environment and legal system, comparative value, and high standard of living make it an obvious choice to establish and grow your digital business here.
MDEC's ambition is to firmly establish Malaysia as the Heart of Digital ASEAN, a regional digital powerhouse launching global champions to lead the Fourth Industrial Revolution, ensuring that Malaysia's digital economy drives shared prosperity for all Malaysians through government grants and investment towards smaller technology based business.
What Does MDEC do?
MDeC develops, coordinates, and promotes Malaysia's digital economy, information, and communications technology industry.
MDEC focused on accelerating company digital economy growth, ensuring it is inclusive and rewarding for all, focused on the key drivers: empowering Malaysians with Digital Skills, enabling Digitally-Powered Businesses, and driving Digital Sector Investments through giving grants to local Malaysian new startups.
MDEC will lead the nation into the new decade as the region’s preferred digital economy, contributing almost 20% to the country’s GDP (highest among ASEAN nations) and 30% to ASEAN internet economy.
Vision And Mission
MDEC is committed to rolling out key digital initiatives announced in MYDIGITAL through three strategic thrusts – empowering Digitally Skilled Malaysians, accelerating Digitally-Powered Businesses and attracting Digital Investments.
MDEC vision is to create a society deeply integrated with technology centred on ensuring shared prosperity for the many and towards realising Malaysia 5.0.
MDEC’s mission is to develop the nation’s Digital Economy by implementing efforts that are centred on attracting investments, building local tech champions, catalysing digital innovation ecosystems with supportive policies and propagating diversity and inclusivity.
The Multimedia Development Corporation (MDeC) was incorporated in 1996 to oversee the development of the MSC Malaysia ( SC Malaysia is a Special Economic Zone and high-technology business district ) and to advise the Malaysian Government on legislation and policies, as well as to set breakthrough standards for multimedia operations.
In 2012, MSC Malaysia revenue came in at RM 33.53 billion which was an increase of 5.7% from 2011, while exports grew to RM 11.6 billion which reflected a 14% rise from the previous year. This resulted in MSC Malaysia’s contribution to Gross Domestic Product (GDP) standing at 11.3 billion, recording a significant double digit growth of 18% from 2011. In October 2010, MDeC was given an additional task by the government, which was to develop a blueprint for a Digital Economy that draws from the huge opportunities created by the Digital world.
This resulted in a programme called Digital Malaysia that was officially unveiled to the public in May 2012. Digital Malaysia is a natural progression to harness the building blocks already laid by MSC Malaysia. Founded on three strategic thrusts, of moving Malaysia from supply to demand, consumption to production and low knowledge-add to high knowledge-add, it ultimately aims to create an ecosystem that promotes the pervasive use of ICT in all aspects of the economy and the first eight projects are already under implementation.