Malaysia Digital Economy Corporation (MDEC)’s Post

ASEAN-BAC Malaysia recently participated in the Focus Group Discussion (FGD) to provide input for the development of the ASEAN Community Vision 2045 and ASEAN Connectivity Strategic Plan (ACSP). Co-organised by The ASEAN Secretariat and ERIA: Economic Research Institute for ASEAN and East Asia, public and private sector representatives convened to discuss, debate, and debottleneck the key challenges and strategies in critical areas of the ASEAN Master Plan on Connectivity (MPAC) 2025. During the Regulatory Excellence and Cooperation session, Jukhee Hong, Executive Director of ASEAN-BAC Malaysia, emphasised the need to simplify and harmonise the various standards and regulations to reduce cross-border trade complexity in ASEAN. These efforts can align with ASEAN-BAC Malaysia’s key initiatives in cross-border investment, capital flows, talent mobility, sustainability reporting and carbon market to ensure that new regulatory measures do not impede the growth of MSMEs in ASEAN. The insights and strategic actions developed at the FGD will be pivotal in realising the ACSP’s vision. ASEAN-BAC Malaysia reaffirms our commitment to fostering collaboration towards a more connected and resilient ASEAN by 2045. #ASEAN #ACV2045 #Connectivity #RegulatoryCooperation

Within ASEAN's vibrant economic tapestry, Malaysia emerges as a beacon of opportunity for global enterprises. Malaysia Global Business Forum (MGBF) stands ready to guide your journey towards market excellence and expansion. Imagine accessing a platform that not only connects you with influential decision-makers and stakeholders but also provides strategic insights and actionable intelligence. Our specialized services encompass every facet of market access, from navigating regulatory frameworks to harnessing emerging trends and industry dynamics. Whether you're entering Malaysia for the first time or seeking to deepen existing partnerships, MGBF offers a tailored approach that ensures your business stays ahead of the curve. Explore https://lnkd.in/feqiiPA today and discover how MGBF can empower your business to thrive in Malaysia's burgeoning economic landscape. #mgbf #business #economy #partnerships #frameworks #trends #industry

Issues related to product testing, certification, and accreditation impede an estimated US $331 billion, or 2.3%, in global trade each year. JASANZ accreditation can help. JASANZ plays a crucial role in overcoming these barriers by providing internationally recognised accreditation that simplifies trade and fosters a more integrated global economy. JASANZ accreditation is a passport to global trade, ensuring that businesses can compete confidently in international markets. In an increasingly competitive world where trust is scarce, it is the gold standard sought by those who value quality assurance as well as commercial advantage. 📖 Learn how JASANZ is paving the way for seamless global trade in our recent blog post and case study. https://lnkd.in/gwGkaziR #JASANZ #JASANZAccreditation #TechnicalBarriersToTrade #GlobalEconomy #InternationalTrade

MDEC is pleased to host representatives from Western Australia, Bryce Green, Acting Investment and Trade Commissioner for the ASEAN region. The visit was led by Adil Akbar, Senior Business Development Manager and Ong Kar-Yee, Education Business Development Manager at MDEC Bangsar South office. This meeting marks a significant step in exploring Western Australia's thriving tech ecosystem and strengthening the bilateral relationship between Australia and Malaysia. With Australia’s Southeast Asia Economic Strategy to 2040 framework and Malaysia's pivotal role in the SEA bloc, the potential for collaboration is vast. This relationship presents extensive opportunities for both nations to foster growth, ignite innovation, and develop a thriving digital economy. In 2023, Australia emerged as Malaysia's 10th largest trading partner, with bilateral trade totalling USD 18.57 billion (RM 84.64 billion). Hence, MDEC is committed towards the shared objective of advancing the digital landscape. #SayaDigital #MalaysiaDigital

ASEAN-BAC Malaysia recently participated in the Focus Group Discussion (FGD) to provide input for the development of the ASEAN Community Vision 2045 and ASEAN Connectivity Strategic Plan (ACSP). Co-organised by The ASEAN Secretariat and ERIA: Economic Research Institute for ASEAN and East Asia, public and private sector representatives convened to discuss, debate, and debottleneck the key challenges and strategies in critical areas of the ASEAN Master Plan on Connectivity (MPAC) 2025. During the Regulatory Excellence and Cooperation session, Jukhee Hong, Executive Director of ASEAN-BAC Malaysia, emphasised the need to simplify and harmonise the various standards and regulations to reduce cross-border trade complexity in ASEAN. These efforts can align with ASEAN-BAC Malaysia’s key initiatives in cross-border investment, capital flows, talent mobility, sustainability reporting and carbon market to ensure that new regulatory measures do not impede the growth of MSMEs in ASEAN. The insights and strategic actions developed at the FGD will be pivotal in realising the ACSP’s vision. ASEAN-BAC Malaysia reaffirms our commitment to fostering collaboration towards a more connected and resilient ASEAN by 2045. #ASEAN #ACV2045 #Connectivity #RegulatoryCooperation

According to the latest Global Trade Modernization Index (GTMI) 2024, Thailand ranks 32nd out of 65 countries, with its digital trade performance at a moderate level. 🌐💻 While Thailand has made progress in its readiness for digital trade, the country still has room for improvement. The International Chamber of Commerce (ICC) recommends government support for private sector adoption of digital technologies and the implementation of supportive laws to boost international trade competitiveness. 🏛️💡 Notably, Thailand's performance in reducing paper use in trade and trade openness in the ASEAN region is commendable. However, growth in international trade in the first quarter was lower than expected due to regional instability, particularly in Myanmar. 📉🌍 The GTMI measures a country's performance in digital trade, indicating that Thailand can further enhance its digital trade capabilities. This suggests that Thailand may benefit from improving its digital infrastructure, streamlining trade processes, and adopting more advanced technologies to enhance overall trade efficiency and competitiveness. 🏭🚢 #GlobalTrade #DigitalTrade #GTMI2024 #Thailand #ASEAN #TradeCompetitiveness #DigitalTransformation #TradeEfficiency #InternationalChamberOfCommerce #ICC

Through a network of Chinese business organizations like the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM),l, the Chinese Malaysian community which comprise 20% of the Malaysian population and is mostly proficient in Mandarin Chinese, has helped draw billions of dollars in Chinese investment into the country. 'In 2023, foreign direct investment (FDI) inflows into Malaysia from China and Hong Kong hit $3.4 billion, triple that of a decade earlier, according to research from bank OCBC. Prior to the launch of China's Belt and Road Initiative (BRI) in 2013, China's cumulative investment in Malaysia amounted to $185 million or 0.2% of the total, said (economist) Yeah (Kim Leng). By the end of the third quarter of 2024, China's total investment this year had risen to $7.8 billion or 3.8% while inflows from Hong Kong SAR had reached $26.6 billion or 12.9% of the total. In contrast, U.S. investment totaled $19.7 billion or 9.6% of total foreign direct investment in Malaysia over the same period.' https://lnkd.in/ggBv466u

ASEAN-BAC Malaysia, led by Jukhee Hong, Executive Director presented an information paper and working plans at the Ministry of Investment, Trade and Industry (MITI), aimed towards enhancing private sector involvement in joint economic and trade business dialogues at the ministerial level between Malaysia and the United Kingdom. The goal is to enrich the dialogues with valuable insights from the private sector, promoting more inclusive and impactful cooperation. Several topics pertinent to bilateral economic relations were discussed, including supply chain resilience and sustainability in the food and beverage industry, education, financial services and the digital economy. #BilateralTrade #EconomicCooperation

ASEAN Exchanges Collaborate on Enhancing Regional Connectivity! 📢   Building on the successful Depository Receipt (DR) linkage between SGX Group and the The Stock Exchange of Thailand (SET), the ASEAN Exchanges – comprising SGX Group, SET, Bursa Malaysia, Indonesia Stock Exchange, The Philippine Stock Exchange, Inc. (PSE), and Vietnam Exchange – have signed a Memorandum of Understanding (MOU) to collaborate on offering DRs across our respective exchanges.   Through this collaboration, we aim to: - Develop market and regulatory frameworks for issuing and trading DRs - Foster information-sharing between exchanges - Engage with market regulators and participants - Profile listed companies   DRs can enhance investment opportunities for domestic investors throughout the region and promote ASEAN as an attractive investment destination.   Following the MOU signing at The World Federation of Exchanges’ General Assembly & Annual Meeting, our CEO Boon Chye Loh moderated a panel discussion with other ASEAN Exchanges leaders, covering recent developments in capital raising and expanding investment options for retail investors. The panel also highlighted common initiatives aimed at strengthening regional competitiveness, sustainability, and market connectivity.   A special thanks to Umar Swift (CEO, Bursa Malaysia), Ramon Monzon (President & CEO, PSE), Asadej Kongsiri (President, SET), Iman Rachman (President Director, IDX) for sharing your insights.   As a region, ASEAN has strength in diversity; each country leverages its unique strengths to attract more global investors and international capital. With ASEAN Exchanges committed to creating a cohesive ecosystem, enhancing connectivity can be a game changer for the region.   With ASEAN’s GDP growth estimated to reach 4.7% this year and projected to become the fourth-largest economy globally by 2023, the region continues to thrive. Stay tuned for more updates as we work together to make ASEAN a premier investment hub!   #SGXSecurities #ASEAN #ASEANExchanges #Indonesia #Malaysia #Philippines #Thailand #Vietnam #CapitalMarkets #DepositoryReceipts

ASEAN-BAC Malaysia, led by Jukhee Hong, Executive Director presented an information paper and working plans at the Ministry of Investment, Trade and Industry (MITI), aimed towards enhancing private sector involvement in joint economic and trade business dialogues at the ministerial level between Malaysia and the United Kingdom. The goal is to enrich the dialogues with valuable insights from the private sector, promoting more inclusive and impactful cooperation. Several topics pertinent to bilateral economic relations were discussed, including supply chain resilience and sustainability in the food and beverage industry, education, financial services and the digital economy. #BilateralTrade #EconomicCooperation