MoU signed to create China-Malaysia Gaming and Digital Content Fund
The initiative targets a fund size of RM429m to support Malaysia’s digital content ecosystem and startups in the gaming sector.
Malaysia.- The Malaysia Digital Economy Corporation (MDEC) and CICC Capital Management Co (CICC Capital) have signed a Memorandum of Understanding (MOU) to launch the China-Malaysia Gaming and Digital Content Fund. The initiative targets a fund size of RM429m (US$100m) to support the development of Malaysia’s digital content ecosystem and startups in the gaming sector.
MDEC will aim to secure investment from Malaysian limited partners with a target of 30-50 per cent domestic participation. The corporation says the digital content sector has created 8,200 jobs and over 300 homegrown companies, contributing an estimated RM1.4bn (€290m) to the national economy in 2023.
Minister of digital Gobind Singh Deo, who was present at the MOU signing, said the fund would be a key component of Malaysia’s plan to establish itself as a major hub for game development and digital content in the region. He believes this can be achieved by forging partnerships with international firms from countries with strong gaming industries.
CICC Capital is the private equity investment subsidiary of China International Capital Corporation Limited (CICC), a Hang Seng-listed investment bank backed by the Chinese government with a market capitalisation of RM76.45bn (US$17.80bn).
In 2024, China and Malaysia announced an extension of their mutual visa-free exemption agreement. Under the deal, China will grant visa-free entry to Malaysian tourists until the end of 2025, while Malaysia will offer the same to Chinese tourists until December 2026.
