Malaysia-UK collaboration paves way for digital economy advancements - Gobind

SUBANG JAYA: Malaysia values its strategic collaboration with the United Kingdom (UK), particularly in digital initiatives, as they pave the way for potential advancements in the digital economy for both nations.

Digital Minister Gobind Singh Deo said as the world stands on the brink of unprecedented technological advancement, Malaysia must capitalise on the opportunities presented through the collaboration to transform into a high-value, digital-based economy.

He also noted that the UK is set to ratify the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), slated to take effect by the end of 2024.

"This represents a golden opportunity for both nations, particularly for the UK to gain access to the vibrant ASEAN market," he said at the British Malaysian Chamber of Commerce (BMCC) 5th Business Excellence Awards 2024 held last night.

Gobind highlighted that the upcoming Joint Economic and Trade Committee (JETCO) meeting, scheduled for the end of June between the trade ministers of both nations and their trade mission in conjunction with London Tech Week 2024, serves as a crucial window to create new digital business opportunities.

He pointed out that the ongoing partnership between Malaysia Digital Economy Corporation (MDEC) and BMCC could be a key driver in advancing both nations' bilateral trade relationships in the digital space.

Since the roundtable session in February, significant progress has been made on the identified action items.

These include the partnership between MDEC, BMCC and the British High Commission for the Malaysian trade mission in conjunction with London Tech Week 2024 in June.

Additionally, there has been support provided to BMCC members regarding inquiries pertaining to the Malaysia Digital (MD) status of various companies.

Furthermore, collaboration between BMCC and its industry partners has been initiated to explore a public-private partnership initiative aimed at fostering awareness and potential for integrating digitalisation into the work practices of the civil service.

"We see the UK as a valuable partner in this collaborative and synergistic journey.

"We are optimistic about the future achievements that our collaboration with the BMCC will bring, emphasising our shared goal of building a resilient, inclusive, and forward-thinking digital ecosystem, thus enhancing the quality of life for our citizens," he said.

From 2023 to the first quarter of this year, an additional 18 UK-origin companies have joined the ranks of MD companies, bringing the total to 70 companies thus far.

This includes investments for ActivPayroll Malaysia Sdn Bhd of RM153 million, Deloitte Regional Services Center Sdn Bhd (RM407.8 million) and Smith and Nephew Services Sdn Bhd (RM49.6 million).

-- BERNAMA

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