MALAYSIA ELEVATES AI AS A CATALYST FOR SUSTAINABLE GROWTH - TPM FADILLAH

KUALA LUMPUR, Oct 23 (Bernama) -- Malaysia sees artificial intelligence (AI) not only as a tool for increasing productivity but also as a driver for more inclusive and sustainable growth across various industries and sectors, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Fadillah who is also the Energy Transition and Water Transformation Minister, stated that in the financial sector, AI has the power to improve decision-making, reduce risk, and offer personalised services on a global scale.

“AI is the key to unlocking productivity gains, improving risk management, and driving economic growth in ways previously unimaginable.

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“In Malaysia, we are fully committed to positioning ourselves as a regional leader in AI and digital innovation,” he said in his speech at the Pan Pacific Economic Forum Malaysia here tonight.

He emphasised that the government, under Prime Minister Datuk Seri Anwar Ibrahim, has established a clear vision within Malaysia's Digital Economy Blueprint, aiming to integrate AI into key sectors such as agriculture, healthcare and smart cities.

“For foreign investors, Malaysia offers a compelling proposition: a gateway to the fast-growing Southeast Asian market, supported by robust infrastructure, a skilled workforce, and a government that is both business-friendly and future-ready,” he added.

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Themed “Investment and AI in A Changing World,” the Pan Pacific Economic Forum Malaysia, hosted by Bukit Jalil Global Acquisition 1 Ltd (BUJAU), explores the opportunities at the intersection of investment and AI.

Fadillah reiterated the government’s commitment to fostering an innovation-friendly environment that ensures ease of doing business while providing access to the broader ASEAN region.

“Malaysia offers a stable, resilient economy that is well-equipped to support long-term partnerships. 

“Our National Investment Aspirations (NIA) and various fiscal incentives are designed to attract foreign direct investment, ensuring that you have the support you need to succeed in your ventures,” he said.

He urged global bankers, technology experts, and investors attending the forum to consider Malaysia as a prime investment destination. 

“Whether you are looking to enter new markets, expand your portfolio, or innovate with technology, Malaysia stands ready to partner with you.

“Malaysia is not just a destination for investment or an innovation centre; it is also a partner committed to long-term, sustainable growth for all stakeholders,” he added.

The forum also featured two collaborations: Hamilton Reserve Bank partnering with Central Wealth Group and Roths Investment Bank.

Also present was Tengku Laksamana of Selangor, Tengku Sulaiman Shah Sultan Abdul Aziz Shah.

-- BERNAMA