Photo - (From left) Datuk Azrin Mohd Noor, Managing Director of Sedania Innovator Bhd; Dato' Yasmin Mahmood, CEO of MDeC; and Chan Kok Long, Co-founder and Executive Director of iPay88.
National ICT agency Multimedia Development Corporation (MDeC) has outlined how Malaysian companies can expand into the global marketplace with recent initiatives.
During a recent media briefing in Kuala Lumpur, MDeC Dato' Yasmin Mahmood, CEO of Multimedia Development Corporation (MDeC) delivered a progress report on how local companies are faring in their globalisation efforts supported by MDeC initiatives such as the MSC (Multimedia Supercorridor) Startup programme and the intellectual property (IP) deal signed in November 2015 with Palo Alto Research Center (PARC).
Her presentation also included a closer look at plans to facilitate local MSC companies to expand their business globally, including a closer look into the four key pillars - market access, capability development, risk capital and technology & business disruption.
She added MDeC's next strategic move in encouraging companies to go global has attracted success. "This year, MDeC is celebrating its 20th anniversary and throughout the years, MDeC has been successful in attracting investments from world-class and cutting-edge companies from an extensive range of industries. Since its inception, MSC Malaysia has contributed more than RM275.04 (US$62.83) billion in revenue to the Malaysian economy, RM206.14 (US$47.09) billion worth of investments and has created more than 147,000 jobs."
"These include 436 companies in the Creative Multimedia Cluster, more than 110 Institutions of Higher Learning and Incubators, 2,665 Information Technology companies and more than 400 Shared Services & Outsourcing providers," said Yasmin.
She said MDeC's mandate was expanded by the Prime Minister in 2011 to work towards Malaysia's vision of a fully developed digital economy by 2020 through Digital Malaysia. "MDeC was conferred to develop a sustainable digital economy built upon a vibrant ICT industry with a transformational use of digital solutions, together with a robust and enabling ecosystem. The effort has seen the Digital Economy agenda contributing a significant growth to our nation's gross domestic product (GDP)."
"We are, of course, not resting on our laurels. Another milestone is in the works for MDeC and we are working hard to realise it," said Yasmin. "Among many of the charters that we need to focus on are strengthening Malaysia's position as a top shared services and outsourcing hub, attracting more ICT investments (both foreign and local), ensuring a growing pool of talent for the ICT sector, as well as promoting the growth of a new generation of MSC-status companies to achieve success and high annual growth rate."
"To ensure that we achieve all that we have set out to do, we need to bolster and build our existing globalisation strategy which has led to the launch of MDeC Americas," she said.
"The primary functions of the MDeC Americas include assisting promising MSC-status companies with market access, funding opportunities, technological capabilities and opportunities for mergers and acquisitions. Our expansion will also act as a launchpad for Malaysian companies to target the global market."
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