UK direct investments to local tech sector at RM270 million

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KUALA LUMPUR: Direct investments from the UK to Malaysia in the tech sector has reached RM270 million since the signing of a memorandum of understanding (MOU) in June last year.

The MOU was signed between Malaysia and the UK to strengthen digital partnership between both countries. The UK Department for International Trade (DIT) recorded RM40 million worth of tech exports into Malaysia.

This year, the UK Mega Tech Mission brought 40 UK tech companies, making it the largest UK tech delegation ever to visit Malaysia. The event brought 12 companies to Malaysia last year.

Two strategic partnerships were announced at the event today, between Action Starter (UK) and CXS Analytics (Malaysia) as well as Kino-mo (UK) and People n Rich Holdings (Malaysia).

Up to 1,000 business matching meetings have been scheduled over the three-day visit covering Kuala Lumpur and Johor.


Read the original story on: TheSunDaily.My