KUALA LUMPUR (July 18): A total of RM162 billion in digital investments were approved between 2021 and the first quarter of 2024 (1Q2024), with the largest share or 76% coming from data centre investments, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.
Data centre investments accounted for the lion's share of total approved investments, at RM123.5 billion.
For 1Q2024, approved digital investments totalled RM17.3 billion. Approved digital investments came to RM60.5 billion in 2023, compared with RM80.8 billion in 2022, and RM3.4 billion in 2021.
Of the total approved digital investments from 2021 to March 2024, foreign investments accounted for RM127 billion, while domestic investments accounted for RM34.9 billion.
80% of manufacturing projects have kicked off
Meanwhile, the government has implemented 2,109 projects or 80% of the 2,638 manufacturing projects that were approved from 2021 to 1Q2024.
On the electric vehicle sector, Zafrul said 2,606 charging stations had been installed as of June 30, of which 1,993 were AC chargers and 613 were fast DC chargers.
The ministry is keeping to its target of 10,000 charging stations by end-2025.