MDeC, formerly stands for the Multimedia Development Corporation is now known as Malaysia Digital Economy Corporation (MDEC). The name change, effective 11th April 2016, coincides with the corporation's 20th year anniversary.
The word 'Multimedia' is replaced with 'Digital Economy' as it accurately reflects what MDEC represents in today's tech landscape from the operational standpoint.
"When we first started out, the company's main objective was primarily to facilitate the growth of the tech industry in Malaysia. MDEC has always been a company with a culture of rapid evolution and advancement which is why we are changing the name to reflect on our over-arching objective and mandate; facilitating the growth of our nation's digital economy," said Dato' Yasmin Mahmood, CEO of MDEC.
However, the change of name will not in any way affect MDEC's role in making big impacts to the society, industries and government. MDEC will continue striving towards building a robust and mature digital economy and transforming Malaysia into a high-income nation.
"I am pleased to advise that this change of name do not affect or alter the relationships that we had built over the years and we would like to take this opportunity to thank all our stakeholders, industry partners and the general public for their continuous effort," the CEO affirmed.
The new name, which inspired by MDEC’s increasing focus on growing the national digital economy contribution to Malaysia’s total gross domestic product (GDP), was introduced during the announcement of the MSC 2015 Performance Results event recently.