MDEC’s Business Mission to Jakarta Strengthens Malaysia-Indonesia Collaboration in Driving ASEAN’s Digital Economy

Asean News Published 3 weeks ago on 9 June 2022 | Author TIN Media
MALAYSIA:

The Malaysia Digital Economy Corporation (MDEC) was able to acquire nearly RM100 million in certified digital prospects during its recent Business Mission to Indonesia. This is MDEC's first Business Mission to Indonesia since the reopening of the borders in March 2022.

The Business Mission, which will take place in Jakarta from May 16 to 20, 2022, is an offshoot of MDEC's GAIN Program (Gateway, Amplify, Investor, Nurture), which aims to propel Indonesian technology companies into the global market.

The Business Mission, according to MDEC CEO Mahadhir Aziz, has allowed MDEC, Malaysian IT businesses, and other organizations to follow up on opportunities that were identified before the COVID-19 pandemic lockdowns.

"Due to their fast-growing and innovative digital ecosystem, Indonesia has been one of Malaysia's most strategic technology partners." We may investigate potential cooperation initiatives that will benefit both our countries as well as ASEAN as a whole through this Business Mission.

"Through the GAIN program, we have been able to deepen partnership prospects and bring business potential, mindshare, and awareness among our nations' governments and agencies," Mahathir added.

Since 2018, MDEC has hosted seven Business Missions (three as part of the Digital Export Acceleration Missions and four as part of the GAIN Connex Program) that have connected more than 40 Malaysian tech companies with Indonesian partners, totaling more than RM370 million in digital export opportunities.

These programs have been moved online from 2020 to 2021 due to travel restrictions caused by the COVID-19 epidemic. The goal of this Business Mission is to examine and revitalize Jakarta's business support ecosystem on the ground.

The Business Mission hosted 18 meetings between government and commercial sector stakeholders. This included negotiations between the Malaysia External Trade Development Corporation (MATRADE) in Jakarta and the Indonesian Ministry of Communication and Information Technology (KOMINFO), as well as talks with Indonesian business leaders.

These discussions will focus on potential joint ventures in the Fintech, Agritech, Cybersecurity, and e-government sectors, as well as Indonesia's plans to move its administrative capital to Nusantara in East Kalimantan.

The Business Mission also scheduled meetings with two venture capital firms, AC Ventures, and KEJORA, to explore the most recent investment opportunities as well as value creation for Malaysian and Indonesian firms looking to expand capacity and market share.

MDEC will continue to look for ways to promote Malaysian portfolio firms in Indonesia and across ASEAN for their Direct Intervention exports and ecosystem support.