The Malaysia Digital Economy Corporation (MDEC) and CICC Capital Management, part of China International Capital Corporation (CICC), have signed an agreement to create the China-Malaysia Gaming and Digital Content Fund. The fund aims to raise around $100 million.
The Minister of Digital, Gobind Singh Deo, said last Thursday that this new fund will help boost Malaysia’s digital content industry. It also shows that interest and confidence in Malaysia as a regional gaming hub has increased over the past two years.
The statement says that Malaysia’s digital content industry has greatly impacted the economy, creating 8,200 jobs as of 2023.
Malaysia has more than 300 local digital content companies, which are expected to contribute about MYR 1.4 billion ($330 million) to the country’s economy in 2023.
From 2011 to 2023, Malaysia’s digital content industry generated total revenue of MYR 87.25 billion ($20.31 billion), with exports worth MYR 11.18 billion ($2.6 billion) and investments of MYR 80.26 billion ($18.69 billion).
Many local creative content companies have gained international recognition.
7th Beat Games made history as the first Malaysian studio to win an Independent Games Festival (IGF) Award in 2024 in California, US, for their game ‘Rhythm Doctor.’
Popular animated shows like Upin & Ipin, Ejen Ali, Mechamato, and Didi & Friends have been well-loved worldwide. This has boosted Malaysia’s reputation in the creative industry and helped increase exports.
Malaysian game studios like Passion Republic and Glow Production are gaining recognition in gaming. They are helping create high-quality game art and contributing to big games like Spider-Man Remastered, Baldur’s Gate 3, and Elden Ring.
Gobind is confident that Malaysia can become a leading gaming hub in the region.
He said this can happen by forming new partnerships between Malaysian companies and those from countries with strong gaming industries.
He added that 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 realizing Malaysia’s plan to become a leader in the gaming sector worldwide.
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