Malaysian companies inks MoU worth RM100 Million

The Malaysia Pavilion in Expo 2020 Dubai saw three Memorandum’s of Understanding worth over RM100 Million signed between three Small and Medium Enterprises with three global business partners.

The first MoU, signed between Malaysia’s Fario Holdings Sdn Bhd and Miko Koffie NV of Belgium, aims to set up a joint venture to establish coffee processing, packing, and distribution facilities. The second MoU between Govicle Sdn Bhd and Six Day Company LLC is to market and expand Govicle’s smart mobility solutions in the Middle East and explore further business opportunities. The third MoU between Malaysia’s PropEasy Sdn Bhd and UAE’s Mahaley Marketing and PR Est is in relation to marketing efforts and identifying business prospects in the UAE.

The Malaysia Pavilion SME Week at Expo 2020 runs from 13th to 18th February 2022 with the theme “StartUps Local, End Up Global.” It is led by the Ministry of Entrepreneur and Cooperative Development – MEDAC, through the implementing agency SME Corp. Malaysia focuses on startups and SMEs to drive national economic development through innovation-driven companies. Participants include SME Bank Berhad and Perbadanan Nasional Berhad.

Dato’ Suriani Binti Dato’ Ahmad, Secretary-General of the Ministry of Entrepreneur Development and Cooperatives who launched the Malaysian SME Week, stated that MEDAC’s involvement in Expo 2020 Dubai is part of the Malaysian Government’s efforts in reviving the role of start-ups and SMEs as engines of economic growth through support and cooperation with potential investors and business partners. This will help in enhancing the startup ecosystem to meet the needs of the global industry.

In this regard, 17 high-performing startups and SMEs from Malaysia have been selected to be introduced to potential global business partners at Expo 2020 Dubai. The industry focus highlighted through startups and SMEs this time around includes Artificial Intelligence Technology and Innovation; Medicine and Health; and Drone related services.

In addition, companies participating in the Expo will be directly involved in activities organised at the Malaysia Pavilion such as business matching sessions, product and service introduction sessions as well as business pitching to potential investors. The companies have been mentored by SME Corp. Malaysia as well as several other agencies under MEDAC. They were also selected because of their readiness to achieve international standards for the services or goods marketed.

Meanwhile, in an effort to boost the synergy of MEDAC’s involvement in conjunction with Expo 2020 Dubai, two additional programs were implemented simultaneously, namely Export Acceleration Mission and Business Export Programme 2.0 by SME Bank involving 11 Bumiputera SMEs and Franchise Engagement Programme by Pernas.

The launching ceremony of the Malaysian SME Week was also graced with the presence of His Excellency Dato ’Mohd Tarid Sufian, Malaysian Ambassador to the UAE, Tuan Mohd Hasril Abdul Hamid, Malaysian Consul General in Dubai, Rizal Nainy, Chief Executive Officer of SME Corp. Malaysia, En. Mohd Hilaluddin Abd Shukor, Chief Executive Officer of Pernas, Datuk Dr Mohammad Hardee Ibrahim, Head of Corporate Strategy of SME Bank, officials of ministries and agencies as well as businessmen from Malaysia and abroad.