KUALA LUMPUR, Oct 7 — Malaysia is keen to further benefit from mutual collaborations with China in the technology sector mainly Industrial Revolution 4.0 (IR4.0), says deputy International Trade and Industry (MITI) minister Ong Kian Ming.

He said as the US-China trade war and Hong Kong protest drags on, more technology firms from those countries are keen to diversify into Asean, which serves a market of 640 million consumers.

"There is no better place like Malaysia for them to expose themselves to the country’s vibrant ecosystem,” he said at China’s Prime Global Innovation & Entrepreneurship contest or IPIEC Global 2019 — Asean chapter finals today.

In addition, he said the IPIEC platform offers great opportunities for entrepreneurs to tap into China’s market with the support of governments.

China’s technovation platform for intellectual property (IP) and corporate services provider WTOIP Global is the organiser of the contest.

The Asean chapter finals were held in collaboration with BETA Foundation, Technology Park Malaysia (TPM) and iOli Communications.

"I think one of WTOIP’s strengths is their experience coming out from Guangdong province, one of the most economically viable areas in China that includes Shenzhen, where a lot of high-tech companies are based.

"Given Asean is a very attractive destination and the US-China conflict has given a lot of push factor for Chinese companies in the technology sector to diversify their operations overseas, it is a good time for all stakeholders here such as TPM or BETA Foundation to seek opportunities to work with Chinese tech companies,” Ong said.

Chief executive officer of BETA Foundation, Lilyana Abdul Latiff, said 11 projects have been selected for the Asean chapter finals.

They include eight projects from Malaysia, two from Indonesia and a project from Myanmar, covering healthcare, engineering, environment, Internet of Things and blockchain, among others.

At the pitching contest today, two projects will be chosen to compete on the global stage in Guangdong in December together with participants from Switzerland, Hong Kong, Germany, the US and the UK, among others.

Overall, 50 applications from this region were received.

"When we were in China, they were under the perception that all technologies need to go to China, and they were worried that a lot of the technologies in Southeast Asia quite match up to what they already have in China.

"Meanwhile, Southeast Asia is interested in seeing technology out of China to come here and help our small and medium enterprises,” she said, adding that it is important for both sides to work together.

WTOIP Global head of global business development, Raffle Chan, said besides nurturing IP potential, winners will also be matched with potential businesses and government entities across China. — Bernama