NEM visits the Malaysia Digital Economy Corporation
First appeared on medium
This visit was part of the 1st NEM.io Foundation Leadership & Strategy Summit held between 21–25 August 2017.
The Malaysia Digital Economy Corporation (MDEC) is the lead agency in driving the digital economy in Malaysia. MDEC’s role is to build a vibrant digital economy and ensure that Malaysia plays a leading part in the global digital revolution. MDEC’s implementations and efforts are centred on building awareness on digital economy, creating credible talents for the industry, and encouraging digital technology adoption among the people (rakyat) and businesses. MDEC is also the agency entrusted to nurture the growth of the technology industry in Malaysia including the Small and Medium Enterprises (SMEs).
On the global front, MDEC is responsible to ensure that Malaysia plays an integral part in digital revolution around the world, while attracting participation from global ICT companies to invest and develop cutting edge digital and creative solutions in the country.
We had the opportunity to engage with Hizam Abdul Kadir, Vice President, Growth Ecosystem Development who shared about the Malaysia Digital Hub initiative which is a place for growing startups to co-exist with the ecosystem to develop their next big idea in technology. Malaysia Digital Hub provides opportunities for your business to get connected to the ecosystem in the digital economy — right here in Malaysia! NEM Malaysia has been working with the MDEC team here to support this development, particularly with Rafe, Syafiq and Leow.
Learn more: https://www.malaysiadigitalhub.my/
Besides Hizam’s team, also present were the Financial Technology (FinTech) team who shared about developments in the FinTech industry in Malaysia and opportunities in Blockchain and Cryptocurrency. A FinTech Hub is due to launch at the end of this year along with other ecosystem partners from around the world as well.
One of the key reasons the visit was arranged was because of the launch of NEM’s Blockchain Centre which will be a 10,000-square-foot Blockchain Center will be located in Kuala Lumpur, Malaysia, and will serve as an incubator, accelerator and co-working space. The facility will house the NEM Blockchain Innovation Lab, a headquarters for research and development as well as regional support for organizations interested in using the NEM platform within their IT infrastructures.
Part of the engagement include having NEM’s Blockchain Centre onboard with the Malaysia Digital Hub’s status which includes tax exemptions, visa for foreign talent, access to support from the private and public sector plus more more.
There was an exchange during the meeting in how NEM.io Foundation could leverage it’s network and technology to develop enterprise solutions for the Malaysian economy. MDEC was likened to the facilitator of dance floor to bring different players to ‘dance’ together. It sounds like it’s going to be a big party!
MDEC is also working on the Malaysia Digital Free Trade Zone (DFTZ), an initiative to capitalize on the confluence and exponential growth of the internet economy and cross-border eCommerce activities. The DFTZ is setup to facilitate seamless cross-border trade and enable local businesses to export their goods with a priority for eCommerce.
Learn more about DFTZ here: https://e27.co/exactly-malaysia-digital-free-trade-zone-impact-20170512/
In summary, the meeting ended with further areas of collaboration and opportunity for further engagement between NEM.io Foundation and MDEC.