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On Tue, 1 Oct, 8:02 AM UTC
3 Sources
[1]
Google says Malaysia investments to add $3 billion to its GDP by 2030, create 26,500 jobs
KUALA LUMPUR (Reuters) -Google said on Tuesday its investments in Malaysia would create 26,500 jobs and contribute more than $3 billion to its economy by 2030, as it announced its new data centre and Cloud region there had broken ground. The start of construction of the new $2 billion data centrein Malaysia follows Monday's announcement of its multi-year partnership with local tech firm Dagang NeXchange Berhad to provide sovereign cloud services. It also follows Monday's announcement that it would invest $1 billion in Thailand to build a data centre and cloud region there, to meet growing cloud demand and support Artificial Intelligence (AI) adoption in Southeast Asia. "Our investments are designed to provide high performing and reliability, meeting demand for cloud and AI services across the country," Google President and Chief Investment Officer Ruth Porat told an event in Malaysia. Digital investments have helped propel Malaysia's economy this year, with growth beating market expectations in the last two quarters and the ringgit currency becoming one of Asia's top performers. Porat said its ventures in Malaysia included support for new sustainability initiatives, such as improvements in water quality, plus skilling, with 355,000 Malaysians already trained since 2019 in digital skills. Google's moves are a part of a wider expansion by global tech companies into Southeast Asia, as they vie for a greater presence in a region with a young tech-savvy population of 670 million. Earlier this year, Microsoft announced cloud services investments worth $1.7 billion in Indonesia, while Amazon plans to invest $9 billion in Singapore, $5 billion in Thailand and $6.2 billion in Malaysia. Malaysia investment, trade and industry minister Tengku Zafrul Aziz said data centres would support the country's ambitions to be a regional leader in the tech sector, including AI. "Regionally the demand for data processing and storage solutions is increasing exponentially and Malaysia is well positioned to meet this demand," he told the event. (Reporting by Rozanna Latiff and Danial Azhar; Editing by Martin Petty)
[2]
Google says Malaysia investments to add $3 billion to its GDP by 2030, create 26,500 jobs
Google's $2 billion data centre and Cloud region project in Malaysia, part of a broader Southeast Asia expansion, aims to create 26,500 jobs and add over $3 billion to the economy by 2030. This initiative, following their partnership with Dagang NeXchange Berhad, highlights Malaysia's emerging role as a regional tech hub.Google said on Tuesday its investments in Malaysia would create 26,500 jobs and contribute more than $3 billion to its economy by 2030, as it announced its new data centre and Cloud region there had broken ground. The start of construction of the new $2 billion data centre in Malaysia follows Monday's announcement of its multi-year partnership with local tech firm Dagang NeXchange Berhad to provide sovereign cloud services. It also follows Monday's announcement that it would invest $1 billion in Thailand to build a data centre and cloud region there, to meet growing cloud demand and support Artificial Intelligence (AI) adoption in Southeast Asia. "Our investments are designed to provide high performing and reliability, meeting demand for cloud and AI services across the country," Google President and Chief Investment Officer Ruth Porat told an event in Malaysia. Digital investments have helped propel Malaysia's economy this year, with growth beating market expectations in the last two quarters and the ringgit currency becoming one of Asia's top performers. Porat said its ventures in Malaysia included support for new sustainability initiatives, such as improvements in water quality, plus skilling, with 355,000 Malaysians already trained since 2019 in digital skills. Google's moves are a part of a wider expansion by global tech companies into Southeast Asia, as they vie for a greater presence in a region with a young tech-savvy population of 670 million. Earlier this year, Microsoft announced cloud services investments worth $1.7 billion in Indonesia, while Amazon plans to invest $9 billion in Singapore, $5 billion in Thailand and $6.2 billion in Malaysia. Malaysia investment, trade and industry minister Tengku Zafrul Aziz said data centres would support the country's ambitions to be a regional leader in the tech sector, including AI. "Regionally the demand for data processing and storage solutions is increasing exponentially and Malaysia is well positioned to meet this demand," he told the event.
[3]
Google Says Its Investments Will Add $3 Billion to Malaysia's GDP by 2030, Create 26,500 Jobs
KUALA LUMPUR (Reuters) - Google said on Tuesday its investments in Malaysia would create 26,500 jobs and contribute more than $3 billion to the country's economy by 2030, as it announced its new $2 billion data centre there had broken ground. "Our investments are designed to provide high performing and reliability, meeting demand for cloud and AI services across the country," Google President and Chief Investment Officer Ruth Porat told an event in Malaysia. (Reporting by Rozanna Latiff; Editing by Martin Petty)
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Google announces significant investments in Malaysia, projecting a $3 billion contribution to the country's GDP by 2030 and the creation of 26,500 new jobs. The tech giant's plans include cloud region development and digital skills training.
Google, the tech giant under Alphabet Inc., has announced substantial investments in Malaysia that are expected to have a significant economic impact. According to the company, these investments will contribute approximately $3 billion to Malaysia's Gross Domestic Product (GDP) by 2030 1. This projection underscores the potential for tech investments to drive economic growth in emerging markets.
One of the most tangible benefits of Google's investment is the creation of new employment opportunities. The company estimates that its initiatives will generate around 26,500 new jobs in Malaysia by 2030 2. This job creation is not limited to direct employment with Google but extends to the broader ecosystem of businesses that will benefit from the company's presence and technologies.
In addition to job creation, Google is focusing on digital skills development. The company plans to provide digital skills training to Malaysians, which is crucial for preparing the workforce for the evolving job market in the digital age 3.
A key component of Google's investment strategy in Malaysia is the development of a new cloud region. This initiative aims to support Malaysian companies in their digital transformation journeys 1. The establishment of a local cloud region can significantly improve data access speeds and reduce latency for businesses operating in Malaysia, potentially boosting their efficiency and competitiveness.
Google's investments align with Malaysia's national digital transformation goals. The company is working closely with the Malaysian government to support these objectives 2. This collaboration between a major tech corporation and the government could serve as a model for public-private partnerships in driving digital innovation and economic growth.
Google's substantial investment in Malaysia comes at a time when major tech companies are expanding their presence in Southeast Asia. This move not only strengthens Google's position in the region but also intensifies competition among tech giants for market share in this rapidly growing digital economy 3.
The projected $3 billion contribution to Malaysia's GDP by 2030 indicates the long-term nature of Google's commitment. This investment is expected to have ripple effects across various sectors of the Malaysian economy, potentially catalyzing further foreign investments and technological advancements in the country 1.
Reference
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U.S. News & World Report
|Google Says Its Investments Will Add $3 Billion to Malaysia's GDP by 2030, Create 26,500 Jobs
Google announces a significant $3 billion investment to expand its cloud computing and AI capabilities in Malaysia and Thailand. This move aims to meet growing demand and support digital transformation in the region.
8 Sources
8 Sources
Malaysia announces plans for a national cloud policy and AI regulations, coinciding with Google's groundbreaking of a $2 billion data center. The move aims to position Malaysia as a leader in digital innovation and responsible AI development in Southeast Asia.
3 Sources
3 Sources
Oracle announces a significant investment of over $6.5 billion to establish a new public cloud region in Malaysia, aiming to enhance the country's digital infrastructure and AI capabilities. This move aligns with Malaysia's vision to become a competitive player in the global AI landscape.
14 Sources
14 Sources
India's Eros Investments plans to invest $1 billion in Malaysia's digital economy, focusing on content, technology, and gaming. The announcement was made by Malaysia's Communications Minister Fahmi Fadzil.
4 Sources
4 Sources
Malaysian tech firm DNeX and Google Cloud have signed a multi-year agreement to provide sovereign cloud services in Malaysia, aiming to accelerate digital transformation and enhance data security for Malaysian organizations.
2 Sources
2 Sources
