Malaysia Digital Economy Corporation (MDEC), Malaysia’s lead digital economy agency, and Malaysian Technology Development Corporation (MTDC) have signed a Memorandum of Understanding (MoU) to strengthen the alliance and collaboration between the two government agencies with the aim to further catalyse the growth of Malaysian tech companies.
Impacts of the MOU Between MDEC and MTDC
Both MDEC and MTDC stand to gain significant mileage considering each partner’s successful track record in Malaysia that dates back to 1992 for MTDC and 1996 for MDEC. Mahadhir Aziz, Chief Executive Officer (CEO) of MDEC, said that leveraging each organisations’ platforms and expertise in support of meeting its objectives will be the key thrust of the collaboration.
Ultimately, the MoU is envisaged to support development of a thriving ecosystem for Malaysian companies to flourish. The race to produce successful global champions is a shared responsibility and this MoU is evident of Malaysia’s holistic approach. Through this initiative we are able to move as one nation to drive forward the MyDIGITAL core objectivesMahadhir Aziz, Chief Executive Officer (CEO) of MDEC
Dato’ Norhalim Yunus, CEO of MTDC said that the MoU will be a platform for their partners in MTDC’s Centre of 9 Pillars (Co9P) to collaborate with the companies and partners under MDEC. MTDC’s Co9P community members will assist the companies in the areas of Industry 4.0 and digitalisation. Under the MoU, MDEC and MTDC will look to co-develop technology-based entrepreneur development programmes as well as in the promotion of digital technologies and their adoption among startups and MSMEs and SMEs. It will also seek to open up more funding facilitation and opportunities for tech companies. The forging of an alliance between MDEC and MTDC will bridge and strengthen business networks synergistically to ensure maximum reach and impact.