Oracle Is Now Malaysia's Largest Tech Investor With RM27 Billion Investment
This marks a significant move in the tech world’s growing interest in Malaysia.
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Oracle has announced plans to invest more than USD6.5 billion (RM27 billion) to establish its first public cloud region in Malaysia
According to Reuters, this marks a significant move in the tech world’s growing interest in Southeast Asia and Malaysia.
The move comes amid a wave of digital investments from global tech giants like Microsoft, Google, and China's ByteDance, all drawn to the region's surging demand for cloud services and artificial intelligence (AI).
Oracle's planned investment is game changing as government agencies, banks, airlines, and hospitality companies will now be able to access cloud services locally rather than relying on external facilities.
Oracle's investment surpasses Amazon Web Services' (AWS) USD6.2 billion (RM26 billion) planned spending, setting a new benchmark for foreign tech investment in Malaysia
The new facility will be Oracle's third in Southeast Asia, joining two already established in Singapore.
As part of Oracle's wider ambitions in the region, the company plans to expand its footprint further across Asia, including India, Japan, and New Zealand.
Following the optimistic news, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 4.40 points to 1,643.71 today, 3 October, up from 1,639.31 on Wednesday, 2 October.
Prime Minister Datuk Seri Anwar Ibrahim lauded Oracle's investment as it reflects the confidence global tech firms have in Malaysia as a regional gateway for cloud infrastructure
"This will not only strengthen Malaysia's position in the AI ecosystem but also provide opportunities for local talent and businesses to thrive," Anwar, who is also the finance minister, said through a post on X.
With the local workforce poised to benefit, Anwar has stressed the importance of seizing opportunities presented by these investments.
"It is important for local workforce and companies to seize the best opportunities from these investments. In a series of discussions with investors, including the top management of these companies, I emphasised the importance of expanding long-term benefits to Malaysia, including the development of centres of excellence, AI faculty, and the empowerment of community groups," Anwar said.