MDEC, DEPA ink MoU to strengthen digital economy cooperation

BANGKOK: Malaysia Digital Economy Corporation (MDEC) has inked a memorandum of understanding (MoU) with the Digital Economy Promotion Agency (DEPA) to strengthen digital economy cooperation between Malaysia and Thailand.

Prime Minister Datuk Seri Anwar Ibrahim and his Thai counterpart Prayuth Chan o-cha attended the MoU exchange ceremony after holding a bilateral meeting at the Government House yesterday.

MDEC, the leading digital economy agency under the Ministry of Communications and Digital (KKD) said the MoU will be a stepping stone for more local technology companies to penetrate the Thailand market with the support of the Malaysia External Trade Development Corporation (MATRADE).

The MoU will allow MDEC to explore potential business partnerships between Malaysian technology companies and Investment agencies in Thailand, as well as to generate ideas and promote Malaysian products.

Communications and Digital Minister Fahmi Fadzil, in a statement issued by MDEC, said that KKD welcomed the strategic partnership that will further strengthen Malaysia-Thailand bilateral relations.

"Through MDEC, we at KKD have identified opportunities to directly promote Malaysian companies by focusing on export and offering ecosystem support in Thailand.

"These companies have the potential to go far and produce more unicorn Malaysian brands and at the same time make Malaysia the digital hub of Southeast Asia," he said.

Meanwhile, MDEC chief executive officer Tan Sri Mahadhir Aziz said Thailand is one of the focus nations under the Gateway, Amplify, Invest and Nurture (GAIN) programme which was introduced in 2018.

"This programme plays an important role in fostering better collaboration with the Thailand ecosystem, which includes business channel partners, government agencies, venture capital investment companies, business associations and corporate companies.

"To date, MDEC has successfully assisted more than 40 technology companies in Malaysia and partners in Thailand and generating opportunity values for the country's digital economy totaling more than RM400 million," he said.

At the ceremony, Anwar also witnessed the exchange of three MoUs between national utility company Tenaga Nasional Berhad (TNB) as well as its subsidiaries, TNB Renewables Sdn Bhd and TNB Power Generation Sdn Bhd and Thailand's agencies and energy companies, namely the Electricity Generating Authority of Thailand; Planet Utility Co. Ltd; and B.Grimm Power Public Co. Ltd, to explore potential cooperation in the field of energy.

-- BERNAMA