Malaysia's digital economy to be fueled by cooperation with China: official

Malaysia's Deputy Minister of Higher Education Ahmad Masrizal Muhammad speaks at the Malaysia-China Digital Economy Forum 2022 in Kuala Lumpur, Malaysia, Sept. 29, 2022. The development of Malaysia's digital economy could be fueled by the Belt and Road Initiative and cooperation with China would serve as a springboard, a Malaysian official said here on Thursday. (Photo by Chong Voon Chung/Xinhua)

KUALA LUMPUR, Sept. 29 (Xinhua) -- The development of Malaysia's digital economy could be fueled by the Belt and Road Initiative and cooperation with China would serve as a springboard, a Malaysian official said here on Thursday.

The digital economy, the fourth industrial revolution and the adoption of sustainable development are the three "domains with untapped economic potentials" in the bilateral trade between Malaysia and China, Deputy Minister of Higher Education Ahmad Masrizal Muhammad said in his officiating speech at the Malaysia-China Digital Economy Forum 2022.

"This forum presents a golden opportunity for us to engage with the world's leading digital technology players from China and Malaysia. It is my hope that the participants, especially the government officials, could grab this opportunity to draw inspiration from today's forum," he said.

"The ministry will actively seek collaboration with industry players both in Malaysia and abroad, for advanced technological exchange to aid in the realization of our nation's goal," he added.

The forum was organized by the Malaysia-China Business Council (MCBC) with the theme "Bridging the Malaysia-China Digital Economy Ecosystems" to promote mutual technology development and cooperation to drive the future of the digital economy ecosystems between Malaysia and China.

Chinese Ambassador to Malaysia Ouyang Yujing said in his speech that the Chinese government gives high priority to digital economy development. Steady increase and impressive achievements have been seen in scale, quality and strength in the development of digital economy in recent years.

"China continues to deepen cooperation with its international partners in the digital economy. China has been actively contributing to international digital governance by getting involved in rules and regulations setting," he said.

China-Malaysia cooperation in digital economy is well grounded and closely knitted. Chinese companies have been cooperating well with their Malaysian local partners. A number of joint projects and programs being implemented and run quite well in Malaysia, such as the cloud data center, e-commerce free trade zone and artificial intelligence industrial park, Ouyang said.

"I have full confidence that today's forum will be a big push to further the China-Malaysia digital cooperation. It will help to figure out new ideas, forms and models of cooperation, so as to explore new growth points and development paths in the long run," Ouyang said.

The one-day forum attracted hundreds of officials, experts and business leaders in digital economy from both countries. Renowned companies like Huawei, Tencent, Hikvision and Alibaba Cloud showcased the latest technologies, products and services and business models to highlight the advanced digital transformation tools from China.

MCBC's Chief Executive Officer Samuel Lee said that China is always willing to expand its cooperation with Malaysia in potential emerging industries, such as the digital economy, green development, e-commerce and cybersecurity. Malaysian companies are overflowing with local talents, which have been engaging internationally, especially with China.

"I hope this digital economic forum could be a vital opportunity for both the Malaysian government and private sectors to learn from China's digital economy," he said.

People attend the Malaysia-China Digital Economy Forum 2022 in Kuala Lumpur, Malaysia, Sept. 29, 2022. The development of Malaysia's digital economy could be fueled by the Belt and Road Initiative and cooperation with China would serve as a springboard, a Malaysian official said here on Thursday. (Photo by Chong Voon Chung/Xinhua)

Chinese Ambassador to Malaysia Ouyang Yujing speaks at the Malaysia-China Digital Economy Forum 2022 in Kuala Lumpur, Malaysia, Sept. 29, 2022. The development of Malaysia's digital economy could be fueled by the Belt and Road Initiative and cooperation with China would serve as a springboard, a Malaysian official said here on Thursday. (Photo by Chong Voon Chung/Xinhua)

Guests visit the Malaysia-China Digital Economy Forum 2022 in Kuala Lumpur, Malaysia, Sept. 29, 2022. The development of Malaysia's digital economy could be fueled by the Belt and Road Initiative and cooperation with China would serve as a springboard, a Malaysian official said here on Thursday. (Photo by Chong Voon Chung/Xinhua)