Malaysia is looking to collaborate with Japan for the efficient delivery of halal products and services with technology.
Malaysia has been undertaking several digital transformation efforts through the National eCommerce Strategic Roadmap and through the country’s engagements at the international level.
Having said that, Malaysian companies are urged to explore new markets and expand their business activities internationally to fulfil the nation’s vision. It is important for local companies to intensify their collaborations with ASEAN countries, such as Japan.
Being a country with numerous advanced technological systems, Japan is like a magnet that continuously attracts foreign tourists from around the globe to experience the beautiful nature and cultural resources.
The upcoming international multi-sport event, the Summer 2021(as amended due to COVID-19) Olympics will be held in Tokyo, Japan. Being the first city in Asia to host the historical sports event twice, Japan is set to welcome 40 million foreign visitors next year.
With the increasing numbers of Muslim tourists flooding Japan during the Olympics from July 24 to August 9, 2021, Malaysia is taking a step forward as one of the halal product producers.
Malaysian International Trade and Industry Minister, Datuk Darell Leiking confirmed that the halal market in Japan is the best platform for Malaysian halal producers to expand their brands.
Establishing a continuous relationship with Japan in the halal industry is seen to be necessary as Malaysia can venture into numerous fields like logistics, data analytics, retail, certification, food distribution, and tourism. Leiking asserted this as one of the efforts for future collaboration with Japan at the Seminar on Business Opportunities in Malaysia.
In addition, Japanese investors can tap into the robust Malaysian start-up ecosystem and utilise the Malaysia Digital Hub initiative which works to support tech and digital co-working spaces.
The Digital Hubs are essentially the centre that offers start-ups with the opportunity to expand globally, have ready access to high-speed broadband connectivity, funding and facilitation opportunities, and a workforce-ready ecosystem, among others.
To retain a market opening for Malaysian companies in Japan, the Digital Halal Trade Value Chain initiative is set to be implemented to allow the companies to market their products.
Agencies like the Ministry of Economic Affairs (MEA), Ministry of Entrepreneur Development (MED) and Malaysia Digital Economy Corporation (MDEC) have been appointed as sub-committees for the initiative. They share a similar goal, which is to promote Malaysia’s international halal branding solutions in food, non-food and services.
Japan’s good relationship with Malaysia together with the credible Department of Islamic Development Malaysia (JAKIM) background, reaffirms Malaysia’s position in providing halal food and products during the Tokyo Olympics 2020.
Mutual gains for both Malaysian and Japan from the halal industry and future investment by the Japanese investors enables positive shares of the halal expertise and technology transfers.
Malaysia needs to innovate and automate in order to remain competitive in challenging market systems of the current time. Hence, the country must restructure its business and industrial ecosystems to meet the needs of the future with the adoption and application of digital and innovative technologies, coupled with effective management and high value-added skills of our talents.
Leiking added that Malaysia offers many lucrative opportunities for Japanese investors to expand their investment by collaborating with the local companies or establishing own business firms. In short, the relationship between the local companies and Japanese business owners would allow for sharing sessions in various matters including digital and innovation strategies.
Moreover, Malaysia is willing to Japanese investors access to the ASEAN Data Analytics Exchange (ADAX), a data technology hub designed to proliferate data-driven decision making.
It is the catalyst for talent development and access to a vibrant data ecosystem for investors to foster collaboration among businesses, start-ups, academia, and professionals so that these focus areas become an integral part of business innovation and decision making.
In accessing ADAX, Japanese investors can tap into the data technology ecosystem within ASEAN.
Nishma Wibowo, is a Market Analytical Manager, Clarity 360 AsPac, based in Jakarta
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