Google announces $2 billion investment in Malaysia; to create over 26,000 jobs by 2030
Farhan S Qureshi, country director for Google Malaysia, said that the investment will unlock new possibilities in several domains.
Google has announced that it will invest $2 billion in Malaysia to establish its first data centre and "cloud region" in the Southeast Asian country, which is expected to create 26,500 jobs by 2030, Al Jazeera reported.
Farhan S Qureshi, country director for Google Malaysia, said that the investment will unlock new possibilities in several domains. "This investment is not just about infrastructure; it's about unlocking new possibilities for businesses, educators, and every Malaysian," Qureshi said in a blog post on Thursday. Qureshi said the Google data centre would power services such as Google Search and Google Maps and "pave the way for delivering the transformative power of AI to users and customers across the country. "The Google Cloud region will offer "high-performance, low-latency cloud services to enterprises, startups, and public sector organisations, alongside key controls that allow them to maintain the highest security and compliance standards, including specific data storage requirements," he added.
Malaysian Prime Minister Anwar Ibrahim said the investment would add $3.2 billion to the country's economy and create 26,500 jobs by 2030, reported Al Jazeera."The investment related to Google's first data centre in Malaysia and the development of the Google Cloud region is proof that the Government's clear planning in addition to the country's economic strength and resources are attractive to existing and new investors," Anwar said in a post shared on X.
"Undoubtedly, this places Malaysia as one of the leading countries in the use and support services of digital technology-based services," he added. This announcement by Google comes weeks after Microsoft said that it would invest $2.2 billion in artificial intelligence and cloud computing in Malaysia, as reported by Al Jazeera. US tech giants have been ramping up investment in Southeast Asia, home to a young computer-literate population of 670 million people and one of the fastest-growing regional economies.
Global consulting firm Kearney has estimated that AI could contribute nearly $1 trillion to Southeast Asia's gross domestic product by 2030. Moreover earlier this month, Amazon said it would invest $9 billion in Singapore to expand cloud infrastructure in the city-state, following earlier announcements of multibillion-dollar investments in Malaysia and Thailand, Al Jazeera reported.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
01:25 PM IST