PETALING JAYA: The Malaysia External Trade Development Corporation (Matrade) and Malaysia Digital Economy Corporation (Mdec) have inked a memorandum of understanding (MoU) to further strengthen existing alliances and strategic cooperation between both agencies.

It aims to better facilitate the current and export ready Malaysian tech companies in strengthening their global footprint through more concerted and collaborative trade promotion initiatives.

According to Matrade CEO Datuk Mohd Mustafa Abdul Aziz, the MoU will result in greater level of collaboration between both agencies, which in turn will accelerate the transformation of local tech champions into global players, in line with the objective of the newly launched New Industrial Master Plan (NIMP) 2030.

“NIMP among others focuses on the government’s mission to get Malaysian businesses to embrace technology and digitalisation to drive innovation, enhance productivity and create new opportunities for economic growth,” said Mohd Mustafa.

Under the NIMP, digital as well as information and communications technology has been identified as one of the five key focus sectors that could help enhance Malaysia’s exports of more complex products and services.

He said that there is a need for agencies such as Matrade and Mdec to further streamline its initiatives and embrace a whole nation approach in its promotion abroad.

Meanwhile, Mdec CEO Mahadhir Aziz said that its Malaysia Digital Catalytic Programmes promotes nine sectors, which it believes can drive high-value digital export and provide a launchpad for tech companies to expand globally.

“To nurture and facilitate a business-friendly digital ecosystem, we are collaborating with various partners, and one of them is Matrade”, he said.