Malaysia is looking to further benefit from Malaysia-China collaborations in the technology sector, particularly with the Industrial Revolution 4.0 (IR4.0) initiative, according to the deputy International Trade and Industry (MITI) minister Dr. Ong Kian Ming.
Tech firms from the two countries have indicated their readiness to enter the ASEAN market, which serves 640 million consumers, attributable in part to the current trade climate, according to a report from Open Gov Asia.
At China’s Prime Global Innovation & Entrepreneurship contest or IPIEC Global 2019—ASEAN chapter finals, Dr. Ong stated, “There is no better place like Malaysia for them to expose themselves to the country’s vibrant ecosystem.”
The contest was organized by WTOIP, China’s technovation platform for intellectual property (IP) and corporate services provider, as it aims to scout distinguished global innovators and projects as well as connect with entrepreneurial resources and partners in China.
Eleven projects have been selected for the ASEAN chapter finals. Among the 11 candidates, eight are from Malaysia, with two from Indonesia and one from Myanmar. These projects cover areas such as healthcare, environment, engineering, Internet of Things (IoT) and blockchain, among others.
Owing to its immense potential, ASEAN invites Chinese firms in the technology sector to diversify their operations as regional stakeholders seek opportunities to collaborate with Chinese companies.
Malaysia’s Human Resources Ministry has signed a memorandum of understanding (MoU) with the Chinese government to boost cooperation in technical and vocational education training (TVET) and IR4.0 technologies.
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