By DayakDaily Team
KUCHING, Nov 11: Malaysia’s growing appeal as a destination for high-value technology investments is reflected in a proposed US$1.85 billion investment by SoftBank Group and Grab to develop artificial intelligence (AI) infrastructure across Sarawak and Peninsular Malaysia.
Deputy Minister of Tourism, Arts and Culture Chiew Choon Man lauded the proposed investment, describing it as another positive development amid a series of major foreign investment announcements involving Malaysia.
Recently, SoftBank Group and Grab signed joint development agreements with Petroleum Sarawak Berhad (PETROS). The companies have proposed an initial combined seed capital of US$1.85 billion for a multi-year plan to develop AI compute capacity across Sarawak and Peninsular Malaysia, with a long-term target of five gigawatts or more.
Chiew, who is also Miri member of parliament (MP), said the development came amid several other major investment announcements, including Google’s plan to invest US$15 billion in Malaysia over the next two years.
He also highlighted the interest shown by a Chinese business delegation led by Pansy Ho, which had expressed interest in potential investments worth US$15 billion in Malaysia. Among sectors of interest identified were electrical and electronics (E&E) and semiconductors; specialised industrial materials and precision engineering; digital economy and technology infrastructure; food processing and halal products; health and pharmaceutical technology; and tourism.
According to Chiew, these developments reflected growing confidence in Malaysia under the MADANI Government, which had continued its efforts to attract foreign investments since taking office in November 2022.
“These consistent efforts have continued to deliver clear results, with billions of ringgit in foreign investments flowing into the country,” he said in a statement.
He noted that Malaysia’s gross domestic product (GDP) grew by 5.1 per cent in 2024, up from 3.5 per cent in 2023, before expanding by 5.2 per cent in 2025.
Citing Department of Statistics Malaysia (DOSM) figures, he said the country’s economy maintained its growth momentum in the first half of 2026, recording a 5.7 per cent expansion, while the second quarter registered growth of 6.0 per cent.
He also pointed to the ringgit’s performance against the US dollar, noting that it had reached an eight-year high of approximately RM3.89 in the first quarter of 2026.
He attributed the country’s economic progress to continued government efforts and reforms, adding that Malaysia had the potential to achieve stronger growth and attract further foreign investments.
“I look forward to seeing Malaysia maintain this positive economic outlook and attract further foreign investments into the country. As part of the MADANI Government, I remain committed to working hard towards this shared goal,” he said. – DayakDaily
