On 4 July 2022, the Government of Malaysia launched a new digital economy initiative, Malaysia Digital (“Malaysia Digital Initiative“), which is intended to succeed and replace the 25-year-old Multimedia Super Corridor agenda to become the primary national strategic initiative on digital economy in Malaysia. This initiative was established by the Ministry of Communications and Multimedia, through its digital economy agency, the Malaysian Digital Economy Corporation (“MDEC“). The Government of Malaysia, through MDEC, will award Malaysia Digital Status to eligible companies that participate in and undertake any of the prescribed activities under the Malaysia Digital Initiative. Malaysia Digital Status companies will be entitled to a set of incentives, rights and privileges from the Government, subject to necessary approvals and compliance to applicable laws and regulations.
In light of the introduction of this new initiative, we seek to provide you with a brief overview of the Malaysia Digital Initiative as well as the Malaysia Digital Status offering.
For more information, click here to read the full Legal Update.
