DUBAI: A West Asian country is currently exploring the option of sinking a US$50mil fund into Malaysia to promote investment in the county's information technology (IT) sector, said Multimedia Development Corp (MDeC) chief executive officer Badlisham Ghazali on Sunday.
“We are in discussions and will submit the proposal to our respective governments, and we hope to announce positive results at a later date,” Badlisham told reporters at the Gulf Information Technology Exhibition (GITEX 2006).
On Saturday, Badlisham said a number of Multimedia Super Corridor (MSC) companies were currently seeking RM260mil worth of business opportunities in West Asia. This was an improvement from three years ago, when trade value for IT products and services only totalled about RM50mil.
“I think MSC is enjoying better branding awareness this year,” he said earlier. Part of this was attributed to Malaysia's membership in the Organisation of the Islamic Conference (OIC). “The fact that we are currently the chairman of the OIC has also helped to improve our image,” he said.
For this year, MDeC is spending RM20mil to market and promote MSC companies to the world, according to vice-president Niran Noor. It has brought 16 MSC companies, among them GREEN PACKET BHD, Scan Associates Bhd and ETI Tech Sdn Bhd, to GITEX 2006 in search of investment opportunities and business tie-ups.
Currently, there are over 1,600 companies in Malaysia with MSC status. Seventy-seven of them are multinationals, while a further 20 are listed on Mesdaq.
MDeC is also planning to meet with various trade associations to market MSC companies. Later this year, it will play host to four trade delegations from West Asia. And so far this year, Badlisham said MDeC had hosted 50 such delegations from West Asia.
At GITEX 2006, MDeC is also planning to promote the World Congress on Information Technology (WCIT) which Malaysia hosts in 2008.
GITEX 2006 marks the 26th year the IT event is held. GITEX is touted to be the largest such exhibition in West Asia.
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