HSBC, MDEC ink MoU to drive digital leap for businesses in Malaysia

KUALA LUMPUR 24 July - HSBC Bank Malaysia Berhad (HSBC)  and the Malaysia Digital Economy Corporation (MDEC) have signed a memorandum of understanding (MoU) focused on enhancing the adoption of technology among small-and-medium-enterprises (SMEs), large local corporates and multinational companies in the country. 

The signing which marks the first MoU between both organisations, highlights the critical role of public-private partnerships in mitigating the adverse effects of COVID-19 on businesses in Malaysia by encouraging companies to embrace digitalisation. 

Chief Executive Officer of HSBC,Stuart Milne said, COVID-19 has intensified the need for businesses of all sizes to incorporate innovative digital solutions and strategies into their daily operations. 

“HSBC’s partnership with MDEC will have far reaching benefits for SMEs, large local corporates and multinational companies in the country as it will help to create opportunities in times of adversity through the effective adoption of technology. 

“Built on our shared commitment to enable the economy’s digital transformation, together with MDEC, we aim to amplify the integration of technology and fuel business growth in Malaysia,” said Milne in a statement.

Under the terms of the MoU, HSBC will work jointly with MDEC to educate companies in the country to leverage technology to strengthen their businesses and facilitate greater convenience in their day-to-day transactions. 

Facilitating this corporate partnership is MDEC’s Global Growth Acceleration division, which has mobilised 571 homegrown tech companies to assist 42 corporations with their digitalisation endeavours since January this year.

As part of the collaboration, HSBC and MDEC will work together to identify targeted investments spanning businesses across multiple sectors including technology, healthcare, electronics, manufacturing, education and more from a host of countries including but not limited to China, the United States, United Kingdom and Japan.

A virtual roundtable was also organised earlier this month to highlight how Malaysian corporates can benefit from digital opportunities and capitalise on technology to become more resilient and thrive through this season of change.

The panel for the virtual roundtable consisted of industry figures from HELP University, DPO International, Taylor’s School, EcoWorld, iPay88 and RISE (MDEC’s innovation partner). 

Meantime, MDEC CEO, Surina Shukri lauded HSBC’s proactive stance in supporting organisations to take the digital leap and further encouraged Malaysia-based multinational corporations to join the effort to build the nation’s digital ecosystem and support local digitally-empowered businesses to grow globally. 

“Corporations like HSBC possess market knowledge, resources, established networks, and the validation that companies aspire to attain, while the tech companies possess the agility and novel ideas that corporations value. 

“We look forward to fostering more corporate partnerships to attract digital investments to the country as this will also serve to augment Malaysia’s pursuit to be the Heart of Digital ASEAN,” said Surina. - DagangNews.com