In the recently unveiled Budget 2024, Malaysian Prime Minister Anwar Ibrahim announced an allocation of 30 million Ringgit to promote Malaysia as a hub for the esports industry, hoping to draw greater interest from international gaming companies and studios for investment in Malaysia.

Moreover, Minister of Communications and Digital, Fahmi, revealed that the Ministry has pinpointed several international gaming companies with the potential to establish their operations in Malaysia, thereby manifesting Malaysia's potential as a central gaming hub in Southeast Asia. The increased budget allocation is also expected to facilitate the entry of NX3 Games, a company keen on expanding its presence in Malaysia.

Fahmi further added, "This will surely be a game-changer because for the ministry, especially MDEC (Malaysia Digital Economy Corporation), we see that the returns from these gaming companies to the country are huge and it’s for the long term. I believe that with this initiative, more international companies can be based in Malaysia."

On a side note, several well-known gaming companies have already established their presence in Malaysia, including Bandai Namco, PlayStation Studios, Double Eleven, Larian Studios, and many more.

Source: Oriental Daily