KUALA LUMPUR – British Malaysian Chamber of Commerce (BMCC) and the Malaysia Digital Economy Corporation (MDEC) today announced the signing of an MOU in a move to bolster digital trade and economic cooperation between the United Kingdom and Malaysia.
The MOU, endorsed by Ts. Mahadhir Aziz, CEO of MDEC, and Jennifer Lopez, CEO of BMCC, and witnessed by Gobind Singh Deo, the Minister of Digital, alongside HE Ailsa Terry, the UK High Commissioner to Malaysia, and Richard Graham, the Prime Minister’s Trade Envoy to the ASEAN EC, Indonesia, Malaysia, and the Philippines, underscores the steadfast dedication of both entities to cultivate strategic alliances, promote the exchange of knowledge, and spearhead initiatives aimed at expediting digital transformation and innovation across diverse industries.
Among the key highlights of the MOU are investment promotion, talent development, market access, and establishing the BMCC digital tech committee.
It opens avenues for Malaysian expertise and fast-growing digital companies to tap into high-growth potential markets, enabling them to expand their products and services to the UK.
Highlighting the UK’s stand as Europe’s top tech investment destination and home to the world’s fourth-largest number of tech unicorns, this partnership signifies a significant step towards bolstering digital cooperation between the two nations.
“We are thrilled to join forces with BMCC as it exemplifies our unwavering commitment to driving digital transformation and enriching the digital economy. Together, with the PeMangkinMD national strategic initiative, we aim to generate significant economic spill-over and foster exceptional growth, reshaping the way we work and live in Malaysia,” said Ts. Mahadhir Aziz, CEO of MDEC.
Jennifer Lopez, CEO of BMCC expressed optimism about the transformative impact of this collaboration, “The bilateral trade between the UK and Malaysia, currently at a healthy £5.8 billion (as of Q3 2023), underscores the deep-rooted historical ties and robust commercial exchanges between the two nations. However, the true potential for growth remains untapped, necessitating proactive measures to harness emerging opportunities on the horizon.
“The digital economy presents immense opportunities for businesses to innovate, grow, and expand globally.
“Through this partnership with MDEC, we aim to facilitate closer collaboration between Malaysian and British businesses, driving mutual prosperity and growth, and leveraging the CPTPP to maximise the benefits of international trade and investment.”
Both MDEC and BMCC anticipate the far-reaching impact of this partnership in cultivating a dynamic and competitive digital ecosystem in Malaysia, leveraging the opportunities afforded by the CPTPP, and remain steadfast in their commitment to achieving mutual objectives.
About MDEC
Malaysia Digital Economy Corporation (MDEC), a government agency under the purview of the Ministry of Digital, was established in 1996 to lead Malaysia’s digital economy. Beginning with the implementation of the MSC Malaysia initiative, we have since then catalysed digital transformation and growth all over the nation.
By offering greater incentives and governance for growth and re-investment, we aspire to bolster Malaysia’s status as the digital hub of ASEAN, opening new doors and driving shared prosperity for all Malaysians.
About BMCC
Established in 1963, the British Malaysian Chamber of Commerce (BMCC) has been driven by the sole ordinance of advancing bilateral trade relations between the United Kingdom and Malaysia.
Over the past six decades, the BMCC has been a catalyst in providing businesses with networking platforms, branding & exposure, international trade services and industry advocacy. Today, the BMCC has firmly rooted itself as one of Southeast Asia’s most prolific Chambers.
The BMCC is part of the Global Chamber Network, comprising British Chambers of Commerce (BCC) members and business groups that are located across all continents of the world and directly linked to Chambers of Commerce in every region of the UK. The BMCC is also member of the Britain in Southeast Asia (BiSEA) network, a group of 8 British Chambers and Business Councils across the Southeast Asian region, aimed at providing channels for businesses to reach into Southeast Asia markets and the region.
