MDEC and GE sign MoU to grow IIoT sector


  • Business
  • Thursday, 03 Nov 2016

Its chief executive officer Datuk Yasmin Mahmood (pic) said the initiative would focus on bringing private and public partnerships as a conduit to build critical mass in BDA adoption and innovation.

PETALING JAYA: Malaysia Digital Economy Corp Sdn Bhd (MDEC) has signed a memorandum of understanding (MoU) with US conglomerate General Electric Co (GE) to collaborate on growing Malaysia’s Industrial Internet of Things (IIoT) contribution to the country’s economy.

In a statement, MDEC, which is a Malaysian government agency under the Communications and Multimedia Ministry, said GE Digital would be a strategic anchor in the collaboration.

“In this strategic development, MDEC and GE Digital will jointly identify focus areas and embark on initiatives to create an industrial application developer ecosystem for the Industrial Internet.

“This cooperation will see both entities providing the much-needed expertise, manpower as well as information and support to each other on a non-exclusive basis,” MDEC said.

The MoU is also expected to open the door to establishing connections between other relevant technology companies under MDEC’s portfolio in addition to GE Digital’s, to pursue business opportunities in the local, regional and international markets.

Importantly, the collaboration is expected to transform selected Malaysian enterprises by assisting them in digitally enhancing their productivity, innovative capacity, competitiveness and potentially being part of the Predix ecosystem, which is the operating system for the IIoT developed by GE.

“The strategic collaboration will provide a platform for Malaysian technology companies to realise their regional and global aspirations by connecting them with relevant opportunities and partners in various countries to expand their business,” MDEC CEO Datuk Yasmin Mahmood said.

“With this collaboration, we hope to further increase Malaysia’s technology export and in turn further fuel the development of a robust digital economy,” she added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Oil price scales 1-year peak as OPEC+ rolls over output for April
Fed pledges patience, says easy policy appropriate
GLOBAL MARKETS-Wall Street, other markets decline on Fed remarks
Bursa Securities strikes off dealer's rep from register for misconduct
Malaysia Airlines set for recovery, post-pandemic, Khazanah says
Khazanah MD: Valid for govt to seek higher dividends during trying times
CPO futures close higher, boost from soybean
Maybank appoints Shahril chief sustainability officer
Khazanah's holding in Malaysia Airlines diluted by debt restructuring
Singapore's GIC cashes in on Taiwan stock boom -sources

Stories You'll Enjoy


Vouchers