KUALA LUMPUR: The Malaysia Automotive Robotics and IoT Institute (MARii) and Indonesia Automotive Institute (IOI) inked a memorandum of understanding (MoU) on collaborating to advance the automotive industry of both countries.
In a statement today, MARii said the most significant cooperation is a joint effort to create business opportunities for local automotive vendors and small and medium industries (SMIs) in Malaysia and Indonesia by facilitating business matching, international exhibitions, and joint ventures.
"This is to promote growth in automotive manufacturing, parts localisation, and exports, with the aim of becoming regional and global suppliers,” it said.
MARii said that the MoU will be geared towards the establishment of the Asean Automotive Institute and other forms of engagement among member countries by creating business opportunities, improving supply chain management, researching cleaner fuels, and enhancing battery manufacturing with the goal of a greener, more innovative automotive future.
"The MoU further demonstrated the government’s commitment to support the enhancement of innovation and progress within the automotive industry,” it added.
Ministry of Investment, Trade and Industry (Miti) director of the industrial development division, Muhammad Zulhilmi Ahmad, said the ministry believes that through this partnership, Malaysia would be able to leverage IOI’s expertise and resources to foster mutually beneficial collaborations to attract greater investments in the automotive ecosystem.
"I am confident that this cooperation and collaboration will not only benefit both countries but also for the betterment of Asean countries as a whole to move towards recovery and shared prosperity for a sustainable future,” he said after witnessing the MoU exchange at the Electric Vehicles & Mobility (EVM) Asia Summit 2023.
