KUALA LUMPUR — Oct. 9, 2017: Malaysia has the potential to receive more than RM270 million in investments in the technology sector from the United Kingdom over the next 15 months.
British High Commissioner here, Vicki Treadell, today expressed confidence that the inflows of UK’s foreign direct investments (FDI) into Malaysia, particularly in the technology sector, could be maintained or grow stronger than that of last year.
“With all the work that we are doing with the UK’s Mega Tech Mission here, the next 15 months must surely deliver as much if not not more,” she said.
A total of 800 business-to-business (B2B) meetings between 42 visiting British companies and Malaysian institutions and organisations have already been lined-up. Up to 1,000 B2B meetings have been scheduled over the three-day visit here and in Johor.
According to Treadell, the technology sector is one of the key components of the free-trade agreement negotiations and the guidelines were expected to be ready by the year’s end.
Two strategic partnerships were announced today.
The first was formed by UK’s Action Starter and CAS Analytics (Malaysia) Sdn. Bhd. to integrate both companies’ platforms to deliver digital solutions, enabling job seekers, policymakers and educators to address employment, training and development issues.
The second was formed by UK’s Kino-mo and People n Rich Holdings Sdn. Bhd., to promote the adoption of new advertising tech innovations through the introduction and distribution of Hypervsn in Malaysia. The award-winning Hypervsn is a media planning solution for creating, displaying and managing 3D content.
The mission is led by the Department for International Trade, in collaboration with Malaysia Digital Economy Corporation (MDEC) and the Johor State Investment Centre and Global Business Services Iskandar, a programme managed by i2M Ventures Sdn. Bhd., a wholly-owned subsidiary of Khazanah Nasional.
UK National Technology Adviser Liam Maxwell, who is leading the mission, said he was confident of the UK tech offering and bullish about the potential for collaborative partnerships.
MDEC Chief Executive Officer Datuk Yasmin Mahmood described the prospects for private sector investment is good as Malaysia’s location in the heart of Asean is pragmatic and prudent.
“Malaysia’s business-friendly policies and unwavering focus on enhancing the country’s digital economy are positive factors that will offer UK investors plenty of opportunities to tap into its information and communication technology ecosystem.
“Certainly, they can look at Malaysia as the gateway to other emerging markets in Asean,” she added. — Bernama