PETALING JAYA: The Malaysia Digital Economy Week at Expo 2020 Dubai has garnered RM1.295 billion worth of qualified trade and investments to Malaysia.
This is derived from 110 business leads, 138 business matchings and 16 memorandums of understanding (MoU) among the 22 participating Malaysian technology companies of the Digital Economy Week delegation to Expo 2020 Dubai, led by the Malaysian Communications and Multimedia Ministry together with Malaysia Digital Economy Corp. Held from Jan 9 to 15, 2022 at the Malaysian Pavilion of the world expo, the Malaysia Digital Economy Week served as a showcase of Malaysia’s technological innovations and Fourth Industrial Revolution solutions, encompassing sectors such as Islamic fintech and digital ID solutions to animation and video games. The event recorded over 20,000 visitors to the Malaysian Pavilion.
The RM1.295 billion in qualified investments and 110 business leads garnered have exceeded the initial target of RM300 million in investment potential and 50 leads respectively. An estimated 890 jobs will be created as part of the investment opportunities.
Meanwhile, Malaysian companies secured a number of deals valued up to US$47 million (RM196.40 million) during Expo 2020 Dubai in the area of sustainable agriculture.
At the expo, Malaysian companies entered five memorandum of understanding (MoU) with UAE-based enterprises as well as three other MoU with companies from Egypt, Germany and Maldives.
Malaysia’s Agriculture and Food Industries Minister Datuk Seri Dr Ronald Kiandee revealed that the MoU pertains to research & development cooperation, trade & distribution, market access, commercial activities, investments, technology transfer, as well as sales & marketing of products & services. The deal will boost the government’s sustainable agriculture efforts and contribute towards the fight against climate change.
Ronald listed biodiversity to wellness, fruits of the tropical land and its byproducts, smart urban farming, smart farming solutions and waste-to-wealth are among the key focus areas laid out in the MoU. Furthermore, special focus will also be given to culinary sustainability, cutting-edge agricultural technologies and solutions, and investment opportunities for agricultural sustainability.
He pointed out that the UAE has been Malaysia’s largest trading partner in the Middle East with a total trade of over US$6 billion reported in 2019.
