BUSINESS

FUTURISE TIES UP WITH UAE REGULATIONS LAB TO FORGE AHEAD IN REGULATORY INNOVATION

25/07/2023 05:50 PM

CYBERJAYA, July 25 (Bernama) -- Futurise Sdn Bhd (Futurise) has taken another major step forward in shaping Malaysia for new emerging solutions associated with drones, autonomous vehicles, artificial intelligence, 3D printing and much more.

The company has tied up with UAE Regulations Lab (RegLab), which comes under the General Secretariat of the United Arab Emirates (UAE) Cabinet, to create an agile and conducive legislative environment that pioneers regulation innovation.

The new partners have signed a memorandum of understanding (MoU) that will see the leveraging of each other’s technical knowledge and experience at various levels in a bid to pave the way for a strong foundation for the fast-tracking of new emerging solutions through regulatory sandboxes and other catalytic initiatives in Malaysia and the UAE.

The MoU was signed by UAE Minister of State and Secretary General of the UAE Cabinet, Maryam Alhammadi and Futurise chief executive officer, Rosihan Zain Baharudin on June 12 in Dubai.

“This Memorandum of Understanding will enable us to band together to discuss challenges, innovative approaches and ideas that will amplify our regulatory efforts and achieve global standards and benchmarks in creating a thriving regulatory innovation ecosystem which will truly transform the sector,” said Maryam. 

Rosihan said that the company is thrilled and honoured to be working with UAE Regulations Lab to put in place all the building blocks essential to galvanise Malaysia’s technological ecosystem.

“This will help us in refining a lot of our initiatives at Futurise and steer us in the right direction by looking at best practices in other nations.

“Our combined knowledge bank with the UAE Regulations Lab will symbiotically build a strong foundational layer for both nations to tap into and open up endless possibilities for more dynamic innovative solutions to come to fruition,” he said.

Rosihan added that the partnership marks a pivotal step forward in positively impacting both nation’s innovation landscape.

“For Malaysia, this opens up more space for the future economy to grow under the framework of the New Investment Policy and the country’s digital economy aspirations, “ he said.

The partnership will also activate co-research activities in vital areas of common interest such as the design, development and management of regulatory sandbox programmes and open innovation platforms for numerous industries.

This will drive the experimentation of regulatory solutions that can be replicated, localised and scaled for use depending on the needs of the ecosystem.

The MoU signing ceremony was followed up with two RegTalk sessions participated by industry experts on various mobility topics organised by UAE Regulations Lab and Futurise.

The three-day visit to the UAE of the Malaysian delegates also featured meetings and networking sessions with ecosystem bodies within the UAE to provide access and exchange necessary to promote discussions and collaborations that will revolutionise the future of mobility.

-- BERNAMA


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