Malaysian, Indian SMEs Sign Four Agreements

By SHARIFAH NUR SHAHRIZAD SYED MOHAMED SHARER NEW DELHI, Jan 26 (Bernama) – Malaysian and Indian small and medium enterprises (SMEs) today signed four memorandums of understanding (MOUs) to enhance cooperation in the development of the sector in the two countries. Minister of Trade and Industry, Mustapa Mohamed, and India's Small Medium and Medium Enterprise Minister Giriraj Singh, witnessed the signing of the MOUs. Prime Minister Najib Razak said of the first MOU involved an agreement between SME Corp Malaysia and India’s National Small Industries Corp India to enhance cooperation in SME development efforts in both countries as well as improving their competitiveness in the international market. “The second MOU, between Malamega Ltd (Malaysia) and Puspathy Enclave Pvt Ltd and valued at US$20 million (US$1 = RM3.88), aims to explore the search and supply of fossil fuels, renewable green energy development and joint ventures for coal and other fuel trading,” Najib told Malaysian reporters here Thursday. He said the third MOU, between JS Rezeki Bumi Maju Sdn Bhd and Software Technologies Pvt Ltd and worth US$5 million, aimed to provide automation services based on artificial intelligence for the Immigration Department of Malaysia. "The fourth MOU between Orchid Life Sdn Bhd and Vimta Labs Ltd (India) and valued at US$960,000 involved clinical and clinical pre-clinical studies on Kacip Fatimah extract for anti-obesity use,” he said. ​ All the agreements were made outside the ASEAN-India Memorial Summit attended by Najib in conjunction with the 25th anniversary of ASEAN-India dialogue. - BERNAMA