MTDC and WLC Execute MoU to Launch Digital Economy Platform Digitizing Malaysia and its Trade Partners Creating Millions of Jobs
Summary
KUALA LUMPUR, Malaysia--(BUSINESS WIRE)--Malaysian Technology Development Corporation (MTDC) and Ireland’s semi-governmental World Logistics Council Limited (WLC) signed a Memorandum of Understanding (MoU) to deploy the organisation’s Digital Economy Platform, the Multi-Dimensional Digital Economy Application System (MDDEAS®). MDDEAS® is built based on a catalogue of product and process innovations that leverage the latest technologies, including Artificial Intelligence (AI), Big Data Analytics, and Blockchain, among others, to de-risk commerce, reduce costs, and create greater access to finance and insurance services globally. MTDC Chairman Tan Sri Abdul Rahman said the platform will assist Malaysia connect local businesses to foreign partners and expand into global markets. Captain Salloum exclaimed, “We are pleased this initiative was pioneered by Johor Corporation, whose vision and 10 years of R&D has contributed to the Digital Economy being adopted as a key G20 Leaders’ policy directive and amassing more than 150 countries, 26 IGOs/ NGOs and prominent firms to deploy the platform. With the MoU signing, MTDC will apply its technical resources and strategic alliances to commercialize the platform benefiting Malaysia, ASEAN and their trade partners worldwide.” The advantage of MDDEAS® over existing platforms is that it captures high quality data that is automatically cross-checked and validated by multiple organizations within the system, he said.