Malaysia’s digital content industry recorded a cumulative impact of RM87.25 billion in revenue, RM11.18 billion in exports, and RM80.26 billion in investments from 2011 to 2023.
Digital Minister, Gobind Singh Deo said this after witnessing the signing of a memorandum of understanding (MoU) between the Malaysia Digital Economy Corporation (MDEC) and CICC Capital Management Co. LTD, a private equity investment arm of China International Capital Corporation Limited.
The MoU focused on the collaboration between MDEC and CICC Capital in establishing the China-Malaysia Gaming and Digital Content Fund, with an estimated target fund size of USD100 million.
Gobind said this strategic fund is set to further strengthen Malaysia’s digital content industry and showed that global interest and confidence had grown in Malaysia as a gaming hub in this region over the last two years.
The digital content industry has contributed significantly to economic growth in Malaysia, providing 8,200 jobs as of 2023. Malaysia has over 300 local homegrown digital content companies, contributing an estimated RM1.4 billion to the national gross domestic product (GDP) in 2023.
Notably, several local creative content companies have achieved global acclaim. 7th Beat Games became the first Malaysian studio to win an Independent Games Festival Award 2024 in California, US for their game Rhythm Doctor. Internationally acclaimed animation titles such as Upin & Ipin, Ejen Ali, Mechamato, and Didi & Friends have been received well globally, elevating the nation’s creative reputation and driving strong export growth.
In addition, Malaysian game studios such as Passion Republic and Glow Production are making their mark in the global gaming arena, contributing high-quality game art and co-development expertise to blockbuster titles including Spider-Man Remastered, Baldur’s Gate 3, and Elden Ring.
At the event, Gobind expressed confidence that Malaysia would be able to develop into a gaming hub in the region. He said this could be achieved through new partnerships between Malaysian companies and those in other countries that have thriving gaming industries and ecosystems.
The establishment of the China-Malaysia Gaming and Digital Content Fund is one such example of how the sector can develop further and faster towards realising Malaysia’s plan to become a leader in the gaming sector worldwide, he added.
