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Malaysian tech firms ink partnership

A recent report noted that four Malaysian technology companies have agreed to ink a business partnership agreement with a locally-owned a B2B services provider specialising in IT solutions. The agreement is aimed at marketing and distributing their services and technologies to new markets in Cambodia.

The companies are associated with the Global Acceleration and Innovation Network (Gain) and are run by the Malaysia Digital Economy Corporation (MDEC). All four firms have active operations in numerous foreign markets.

The signing ceremony coincides with two separate initiatives by the Malaysian and Cambodian governments said a press release.

Malaysia aims to expand its companies and boost their interest in foreign markets as Cambodia plans to improve its ICT ecosystem to keep up with its robust gross domestic product growth.

The company that specialises in technology solutions for insurance will build upon its already existing joint-venture partnership the tech group which began last July.

The group will act as resellers for NetAssist’s cybersecurity services, with a projected $500,000 per year valuation, it said.

According to the agreement, a leading Malaysian financial software firm will work with the tech group to access and market their solutions across the Mekong region, focusing on anti-money-laundering (AML) and anti-terrorism-financing (ATF) solutions which allow financial institutions to supersede AML and ATF regulations.

A Malaysian firm that specialises in multi-application card-based solutions will provide cost-effective, industry-leading Smart-ID solutions, and will serve more than 600 organisations across various industries in the ASEAN region.

The agreement will see the four companies work with a Cambodian IT firm on technology adoption in Cambodia’s education and commercial sectors.

The Vice President of MDEC Enterprise Development stated that the corporation is excited to see more Malaysian “tech champions” join global innovators and market leaders in exchanging technologies and ideas.

The Malaysian government is confident that its links with Cambodia’s digital sector will result in many creative solutions across various sectors, and it is hoped that more such developments take place in the near future.

These developments arrive strongly supported by Malaysia’s Ministry of Communications and Multimedia, with their robust support continuously being lent to MDEC’s initiatives to advance Malaysia’s digital sector and boost international recognition for its resourceful players.

Pushing the IR 4.0 agenda forward

Malaysia National Policy on Industry 4.0 states that the understanding of and access to advanced, cost-effective and interoperable Industry 4.0 technologies are at the core of unlocking the potential of Industry 4.0.

Currently, the majority of Malaysian manufacturing firms surveyed adopt less than 50% automation. The experiences from other countries demonstrate the importance of digital/technology labs and collaborative platforms, especially public-private partnerships (PPPs), in disseminating Industry 4.0 technologies and transferring knowledge.

The Government aims to work with global and local industry leads to set up digital and Industry 4.0 demonstration labs.

Moreover, standards compliance that fosters interoperability of systems, both nationally and internationally, is important to support seamless value chains, optimise resources and improve productivity.

Finally, developing and commercialising new technologies and processes that address specific needs in priority sectors will be crucial to retain Malaysia’s position as a preferred high-tech and manufacturing hub and supply chain partner.

In this way, working with Cambodia will enable Malaysia to grow its economy while simultaneously sharing its expertise and expanding its base.

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