7 MoUs Inked at Malaysia-Taiwan Industrial Collaboration Summit
Encouraging Collaborations and Increasing Business Opportunities
KUALA LUMPUR, 19 September 2018 – Seven (7) Memorandums of Understanding (MoUs) were signed between Malaysian and Taiwanese firms across various fields, namely food, pharmaceuticals, cosmetics, textile, IT services, healthcare and traffic solutions during the Malaysia-Taiwan Industrial Collaboration Summit held at the headquarters of the Malaysian Investment Development Authority (MIDA) today.
Among the MoUs signed include a collaboration between B.U.M. Equipment (Malaysia) and Taiwan’s Wonderful Power Co. Ltd. to develop functional fabric. With the MoU, both companies will not only involve in the exchange of information and market expansion, but will also explore innovative applications in the fashion industry supply chain.
Datuk Norazman Ayob, Deputy Secretary General (Trade) of the Ministry of International Trade and Industry (MITI) who graced the event said that the signing of the 7 MoUs is a good testament that Malaysia has the right conditions in place to attract foreign businesses in many areas. These collaborations can further step up cooperation and exchanges between Malaysia and Taiwan.
“Technology will continue to be the driving force of the changing landscape in businesses. Hence, it is important for our companies to incorporate new ways of doing things to remain competitive. Malaysia seeks to create a strong innovation climate that is driven by collaborations and technology transfers in high value added areas, such as ICT, design and development, and Internet of Things. Having the right incentives in place is also important. As we seek to become a producer country, one that can churn out high-tech products, we believe there is much our domestic players can learn from Taiwanese firms – especially in cultivating an innovation state of mind,” added the Deputy Secretary General (Trade) of MITI.
The full day event featured sub-forums and business matching sessions with focus areas on textile, food, pharmaceutical, cosmetics, smart city solutions and IT services. There was also a sharing session by representatives of YSP Malaysia, Logic Art, Willowglen and Asli Mechanical. Also present was Mr Ching-Ching Yang, Deputy Director General of the Industrial Development Bureau (IDB); Mr Lin Min-Ju, Vice Chairman of the Chinese National Federation of Industries (CNFI); Datuk N. Rajendran, Deputy Chief Executive Officer of MIDA; Dato’ Soh Thian Lai, President of the Federation of Malaysian Manufacturers (FMM); and Ms Anne Hung, representative of Taipei Economic and Cultural Office (TECO) in Malaysia. The event, which was jointly organised by CNFI and FMM, attracted over 300 participants ranging from the Taiwanese and Malaysian business community as well as government representatives.
MIDA is the government’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA.
For further information, please contact:-
Mr. Nelson Samuel Wilson
Director, Foreign Investment Promotion Division
03-2267 3787 | [email protected]