Galaxy Racer has announced a US$10 million investment in Malaysia over the next five years, with the intention to host additional esports events and tournaments to help the country’s esports ecosystem grow. Galaxy Racer is one of the firms taking part in the Malaysia Digital Economy Week, which was started by Malaysia’s Communications and Multimedia Minister, Tan Sri Annuar Musa, on January 12th, 2021, at Expo 2020 Dubai.
“Galaxy Racer believes in MDEC’s vision for Malaysia to become a high-value-added economy and a net exporter of home-grown technology and digital solutions,” said Paul Roy, the company’s founder, and CEO. “We’re looking forward to establishing our APAC headquarters in Malaysia, and we appreciate MDEC and KKMM’s assistance in facilitating foreign direct investment into the country.”
Galaxy Racer has Announced US $10 Million Investment for Malaysia in next 5 Years
Galaxy Racer (GXR), founded in 2019 by Paul Roy and headquartered in Dubai, is the world’s largest esports, gaming, and lifestyle organization, with over 100 content creators across Southeast Asia, the Middle East, North Africa, South Asia, and Europe, and over 500 million followers and 2.5 billion monthly views, signed a Memorandum of Understanding (MoU) at Expo 2020 Dubai, witnessed by Tan Sri Annuar Musa, Malaysia’s Minister of Communications and Multimedia (MDEC).
The planned headquarters in Malaysia will focus on six business verticals, according to Galaxy Racer, including content, esports teams, content creators, esports and gaming events, merchandising, a music label, and an animation studio. Malaysians will be able to work in the esports business as a result of the new venture.
The digital economy is becoming one of the most important contributors to Malaysia’s GDP, accounting for 22.6 percent of the country’s GDP. By 2025, it is estimated to contribute up to 25.5 percent. Galaxy Racer intends to act as a catalyst by creating high-skilled jobs and providing Malaysians with the opportunity to work for an international esports, gaming, and lifestyle company that will generate additional revenue for the country through its intellectual property in the digital content industry.
