What's Next for Cyberjaya?

Almost two decades ago, the city of Cyberjaya was born on 2,800 ha of mostly undeveloped land, adjacent to Malaysia’s administrative capital, Putrajaya.

Today, Cyberjaya is bursting with new developments as it races to become Malaysia’s top smart
city.

An abundance of offices, universities, commercial and residential buildings are already established in Cyberjaya, which is also extremely well-connected with travelers taking only 20 minutes to and from Kuala Lumpur via the Maju Expressway.

Cyberjaya’s master developer, Setia Haruman ensures the town is planned and developed with world-class infrastructure and amenities. However, the newly elected government understands that there is still a long way to go.

Minister of Entrepreneur Development Datuk Seri Mohd Redzuan Md Yusof believes Cyberjaya needs to be revived as a technological hub as its been marketed more towards a real estate destination.

“We are very keen to bring up Cyberjaya as a technological hub especially on the back of the massive potential of Malaysian technology firms to become high growth firms (HGF),” he said on the sidelines of the World Bank Global Report launch titled HGF: Facts, Fiction and Policy Options for Emerging Economies.

Multiple knowledge sharing sessions with the private sectors of Japan, China and the US have been engaged, according to Redzuan.

“We believe that Malaysia has massive potential to become a battery development and manufacturing hub and we are currently engaging with US scientists in making this viable. Other sectors that we can bring up other than technology is the software capability.”

He also commended World Bank’s efforts for its research into the HGF report.

“With the setting up of the Entrepreneur Development Ministry, entrepreneurship policies are now expected to be further strengthened and reoriented to a broader framework as to achieve the country's goal of growing an entrepreneurial economy.

“Some of the ministry’s targets include boosting small and medium enterprises’ (SMEs) contribution to the gross domestic product (GDP) to 41% by 2020.

“We’re committed to creating one million jobs in the next five years, producing 50,000 entrepreneurs to generate 200,000 jobs a year and to train 50,000 graduates a year in entrepreneurship,” he said.

With Prime Minister (PM) Tun Dr Mahathir Mohamad, the Multimedia Super Corridor expects a reboot. Before ending his first term as PM in 2003, Dr Mahathir left Cyberjaya as one of the core elements in the MSC masterplan.

MSC was meant to promote information and communication technology (ICT) as a new growth sector that would provide new high-paying jobs, and propel Malaysia’s industrialisation and urbanisation.

Putrajaya has also announced it intends to revitalize Cyberjaya, as the country prepares to embrace Industrial Revolution 4.0, which involves big ta analytics; data science; the Internet of Things; as well as blockchain technology.

“We are in the process of announcing some initiatives on what we will do with Cyberjaya. When we are ready, we will tell the public what we want to do and what the next initiatives are,” Communications and Multimedia Minister Gobind Singh Deo said.

Prior to that, Dr Mahathir said the MSC project will be revived to promote digitization of the country’s economy due to its importance in the current era.

“Yes, there will be (a second wave of) MSC to suit the current digital needs,” Dr Mahathir was reported saying.

Cyberjaya is now rated as one of 25 most competitive economies in the world as ranked by the World Economic Forum.

The city also ranked among the top 25 destinations in terms of ease of doing business by the World Bank.

In conclusion, although the progress of the city’s development thus far has not been as rapid as some would have hoped, the fight to replicate California’s prosperous Silicon Valley is not over.

Despite the adversities the economy has encountered, Cyberjaya has displayed its resilience during times such as the global financial meltdown during 2008-2009, seeing a 57% increase in growth. Moving forward we anticipate further growth and reemergence as a leading global tech city.

If you are interested in learning more about investment opportunities in Cyberjaya, sign up for a free investment info kit here - https://forms.gle/9WtL29CN3PMYUcb26