At a media briefing on MDeC Globalization Strategy held on 19th January 2016, MDeC CEO, Dato’ Yasmin Mahmood discussed plans to facilitate and empower local MSC companies to expand their business globally, including a closer look into the four key pillars – market access, capability development, risk capital and tech & biz disruption.
An approximate of 88 percent of Malaysian companies earned an average revenue of RM 1.4 million, reflecting the incompetence of Malaysian companies to take onto the global platform. This is mainly because, companies are unable to go beyond their start-up phase. As a result most companies are still stuck in Tier 3 status due to lack of globalization strategy. Globalization allows Malaysian companies to expand their business to overseas markets. Until now, only 24 Malaysian companies are categorized under Tier 1 with an average revenue of RM267 million, making up only 2% of the overall count of Malaysian companies.
MDeC steps in to provide an opportunity for Malaysian companies to expand their business and become more diversified. MDeC aims to provide a golden opportunity for Malaysian companies to improve their technological infrastructure and attract more Foreign Direct Investment (FDI) to the country, through their newly introduced programme called Global Acceleration and Innovation Network (GAIN). This programme will enable Malaysian companies to further their growth potential and achieve greater revenue to ultimately increase Malaysia’s GDP.
Speaking on this, Mahmood said, “We are, of course, not resting on our laurels. Another milestone is in the works for MDeC and we are working hard to realise it. Among many of the charters that we need to focus on are strengthening Malaysia’s position as a top shared services and outsourcing hub, attracting more ICT investments (both foreign and local), ensuring a growing pool of talent for the ICT sector, as well as promoting the growth of a new generation of MSC-status companies to achieve success and high annual growth rate.”
“To ensure that we achieve all that we have set out to do,” she added, “we need to bolster and build our existing globalisation strategy which has led to the launch of MDeC Americas. The primary functions of the MDeC Americas include assisting promising MSC-status companies with market access, funding opportunities, technological capabilities and opportunities for mergers and acquisitions. Our expansion will also act as a launchpad for Malaysian companies to target the global market.”
