Pikom announced the signing of a Memorandum of Understanding (MoU) with Nasscom.

Pikom, the National Tech Association of Malaysia, recently announced the signing of a Memorandum of Understanding (MoU) with nasscom, the trade body and chamber of commerce of the tech industry in New Delhi, India. This significant partnership, formalized on August 21, 2024, is set to create substantial opportunities for Malaysia’s digital economy while reinforcing the nation’s standing in the global tech landscape. Pikom, in a statement, emphasized the strategic importance of this MoU in fostering closer ties between Malaysia and India in the technology sector.

The MoU signing took place during the state visit of Malaysia’s Prime Minister, Anwar Ibrahim, to India, underscoring the growing relationship between the two nations. The event was further elevated by the presence of Malaysia’s Digital Minister, Gobind Singh Deo, highlighting the government’s commitment to strengthening the digital sector. This collaboration comes on the heels of a recent announcement by Malaysia’s Digital Ministry that seven global Indian companies operating in Malaysia have committed to training and hiring at least 5,000 Malaysians. This initiative was also facilitated by the signing of a separate memorandum of understanding between the Malaysia Digital Economy Corporation (MDEC) and nasscom during the same event in New Delhi.

Pikom is poised to leverage its partnership with nasscom to support this initiative, marking a crucial step in its efforts to elevate Malaysia’s digital economy. The collaboration is expected to foster innovation, enhance market access, and strengthen bilateral relations between Malaysia and India. By working closely with nasscom, Pikom aims to create a more interconnected and vibrant tech ecosystem in Malaysia.

The MoU between Pikom and nasscom outlines several key areas of focus, all aimed at driving mutual growth and collaboration between the tech industries of Malaysia and India:

1. Facilitating Mutual Exchange of Information: Pikom and nasscom will exchange insights on the tech industry landscapes of both countries. This includes sharing information on recent shifts, challenges, and potential growth areas, which will help companies in Malaysia and India better understand and navigate each other’s markets.
2. Organizing and Supporting Collaborative Events: The MoU includes plans to organize and support various virtual and in-person events. These events are designed to promote greater collaboration between Malaysian and Indian technology companies, providing platforms for knowledge exchange and business development.
3. Engaging Subject Matter Experts: Both Pikom and nasscom will invite industry experts to share case studies and provide advisory services on growth strategies, best practices, and other relevant topics. This will help companies in both countries achieve greater success by leveraging expert insights.
4. Fostering Networking Opportunities: The agreement emphasizes the importance of networking, with provisions for organizing opportunities for Malaysian and Indian IT companies to collaborate. This includes joint research and development initiatives and go-to-market strategies that can benefit both nations.
5. Creating Special Interest Groups: A Special Interest Group will be established to channel joint industry positioning for the Malaysian market. This group will focus on enabling ease of doing business and promoting collaborative efforts between the two countries.

Ong Chin Seong, chairman of Pikom, expressed his enthusiasm for the partnership with nasscom. He stated, “Pikom is thrilled to strengthen its cooperation with nasscom through this MoU. Just as the relationship between Malaysia and India has evolved over the years, we aspire to grow this into a stronger comprehensive strategic partnership. Through knowledge sharing and joint initiatives, we aim to create a more vibrant and interconnected ecosystem.”

Rajesh Nambiar, chairperson of nasscom, also highlighted the significance of this MoU, noting that it marks a new chapter in the relationship between the Indian and Malaysian tech industries. He emphasized nasscom’s commitment to deepening this collaboration, which will not only enhance market opportunities for both nations but also drive innovation and growth in the region