Malaysia is known for being ahead in certain sectors of a national economy compared to regional countries and now the Economy Ministry has plans to turn the city of Kuala Lumpur into a startup and digital hub.
This foray by the Economy Ministry is ambitious but considered realistic by industry watchers and will result in higher wages to workers and it will also greatly boost the image of the country as a forward looking nation.
While the Economy Ministry’s focus is a tripartite strategy which will focus on renewable energy, food security and the digital economy, the focus over the coming six months by the ministry is to rope in experts to build KL as a digital hub.
Investment firm Thiel Capital has been enlisted to help shape the target of the Economy Ministry for Kuala Lumpur to be a hub for startups and the firm has a very impressive list of credentials to back them up.
The Economy Ministry is also working with other ministries, government departments and agencies to achieve the digital economy target and Thiel Capital with its experience in developing Arizona in the US as another Silicon Valley will come in useful.
The Economy Ministry added that the government is focusing on coordinating the public support system towards an integrated approach for a more effective digital ecosystem so that a digital government can be established.