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ITRI Establishes New Connections in Southeast Asia: Taiwan and Malaysia to Jointly Create New Smart Business Opportunities

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ITRI Establishes New Connections in Southeast Asia: Taiwan and Malaysia to Jointly Create New Smart Business Opportunities

ITRI is working with industries and non-profit organizations to create new business opportunities in Malaysia to further promote Taiwan’s scientific research results overseas. With ITRI Executive Vice President Pei-Zen Chang and Malaysian Investment Development Authority (MIDA) CEO Dato' Azman Mahmud as witnesses, General Director of ITRI International Center Sean S. H. Wang and MIDA Director for Advanced Technology and R&D Jeyasigan Nair signed an MoU in Kuala Lumpur on May 7th. According to the MoU, Taiwan and Malaysia will be working together in three major areas: smart manufacturing, IoT, and circular economy. In the future, an industrial technology demonstration site will be built in Malaysia to create a new economic development model and strengthen Taiwan’s New Southbound Policy strategies.

ITRI and MIDA signed a memorandum of cooperation, aiming to accelerate cooperation in smart manufacturing, IoT, and circular economy on May 7th.
ITRI and MIDA signed a memorandum of cooperation, aiming to accelerate cooperation in smart manufacturing, IoT, and circular economy on May 7th.

Taiwan is the fourth largest foreign investor in Malaysia, and every year over 17,000 Malaysian students come to study in Taiwan. Taiwan and Malaysia not only have frequent interactions in economic, trade, and cultural sectors, but also have a lot of exchanges in technology R&D. For example, ITRI used its BioNET technologies to help Malaysia treat industrial wastewater. 

 

ITRI Executive Vice President Pei-Zen Chang expressed that Taiwan’s strong performance in smart manufacturing and ICT industries can spur on Malaysia’s industrial upgrading and speed up its entry into Industry 4.0; thus leading to this collaboration between MIDA and ITRI. Chang further pointed out that in terms of technology R&D and related industry development, Taiwan and Malaysia complement each other: Malaysia has bountiful natural resources which Taiwan lacks, including wood, rubber, palm oil, and petrochemistry raw materials; yet Taiwan has the technologies and practical experience in the manufacturing industries Malaysia plans to focus on, such as electronic manufacturing, electrical engineering, chemistry and textiles. This is a collaboration from which both parties will benefit, and hopefully in the future, ITRI can work with Taiwanese manufacturing industries and supply chains to enter the Malaysian market and create new business opportunities there in smart manufacturing, IoT, and circular economy sectors.

 

MIDA is the only channel for foreign investors to enter Malaysia. It is also an important platform for introducing new advanced technologies into the country from abroad. MIDA CEO Dato' Azman Mahmud remarked that in recent years, Malaysia has been actively promoting economic transformation and industrial upgrading. By speeding up the development of high value-added industries and improving the overall economy and per capita income growth, the country hopes to end its dependence on natural resources as the key player of its economy. Dato' Azman Mahmud stressed that ITRI’s past experiences in driving Taiwan’s industrial upgrading can assist in Malaysia’s economic transformation. This will also enhance ties between Taiwan and Malaysia in areas such as scientific R&D and industrial development, and encourage resource, talent, and market sharing to create a mutually beneficial collaboration.