RM46b worth of foreign, domestic digital investments sealed as WCIT 2022 wraps up

16 September 2022

The 26th World Congress on Innovation and Technology (WCIT) 2022, which ended yesterday, saw over RM46 billion worth of foreign and domestic digital investments being announced.

The foreign and domestic digital investments were through the inking of Memorandums of Understanding (MoUs) between some of the biggest companies in the global technology and digital arenas.

These agreements are set to further progress Malaysia’s technological advancements, as the country seeks to bridge the gap not only within Southeast Asia but also with the rest of the world.

Among those who signed the MoUs were between Angkasa-X and Ideal Property Group; IHEAL Medical Group and the Democratic Republic of Timor-Leste; Digital Penang and Microsoft; along with Securemetric and AVM Cloud.

The National Tech Association of Malaysia (PIKOM) was also successful in signing MoUs with the Centre for Sustainability Intelligence, the Russian National Software Developers Association (RUSSOFT), ASSESPRO Brazil, 88 Captains, Huawei and the Asean China RCEP Chamber.


PIKOM chairman Dr Sean Seah said the success of WCIT 2022 certainly could not be overlooked as they had minimised the technological divide between Malaysia and some of the most developed countries in the world.


“We have also secured over 25,000 new job opportunities through foreign and domestic digital investments.

“We will continuously seek to improve infrastructure, increase employment, foster technological innovation and, ultimately, advance forward as a nation actively pursuing technological excellence,” he said.

WCIT 2022 officially became the largest and most prestigious technology and innovation conference to date in Malaysia.

The three-day WCIT 2022 was attended by over 4,000 delegates from over 60 countries. The closing ceremony yesterday also announced Kuching, Sarawak, as the new WCIT host in the forthcoming year.

Malaysia will be the second country to host WCIT thrice, and the first in Asia to do so.

Chief Minister Chow Kon Yeow said WCIT 2022 had positively positioned Penang on the world map as a global technological and innovation hub.

“Besides being home to some of the world’s leading tech companies, the successful fruition of this event has showed that this ‘Silicon Island’ has even greater potential to thrive as the centre for innovation and technological advancements.

“I would like to therefore congratulate everyone, especially all participants and stakeholders of WCIT 2022, for making what I believe to be the best iteration yet in the event’s history,” he said.

The 5 SEADragon Unicorn Winners were also conducted during the closing. They were Angkasa-X Innovation, iHeal Medical Group, Magnus Games Studio, MDT Innovations Sdn Bhd, ReSkills Edtech, SkyeChip Sdn Bhd, Swift Bridge Technologies (M) Sdn Bhd and WeAssist Sdn Bhd.

Prior to WCIT 2022, PIKOM conducted training sessions to select and prepare these Malaysian high-growth start-ups for a chance to pitch their businesses at the event.

The five announced winners would now have regional and global investors catalysing their businesses’ expansion.

While WCIT 2022 has closed its curtain, TechFest 2022 continues to open at Setia Arena, Penang until Sept 18 18 to the public.

TechFest 2022 is a five-day experiential technology festival exposing the public to different innovative and futuristic aspects of technology within lifestyle and business.

The programme includes interactive exhibits, games and demonstrations centred around exciting themes such as robotics, drone technology, 5G zones and space technology.

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