Malaysia is ready to provide support for companies to capitalise on the ASEAN Economic Community (AEC) as it is already the preferred hub for many global companies planning to expand into Southeast Asia, said Minister of International Trade and Industry, Dato’ Sri Mustapa Mohamed.
“As Southeast Asia's
flourishes, attention on
competitive and lucrative
access to over 630 million consumers, is rising. We have recently introduced the
Principal Hub Scheme to facilitate and incentivise international companies who want a business-friendly launchpad to expand into
In addition, our
levels in the AEC are an important bridge
strengthen trade links and economic ties with our ASEAN neighbours so that we can leverage on the rising
that is vital for
today,” he said.
"Malaysia adopts an ecosystem approach whereby concerted efforts have
been put in place to promote the entire value chain of industry clusters and enhance delivery enablers to
support the value chain. A strong and comprehensive ecosystem improves production and
reduces the cost of doing business and supports greater flow of trade and investment. The
importance of the ecosystem approach is further entrenched in the 11th Malaysia Plan (11MP). Under the
11MP, we will continue to ensure that there is a significant leap in investment activities. This ultimately
contributes to enhancing the competitiveness of the country and improving the country’s attractiveness for
The minister noted that ASEAN has a part to play. “As the region seeks to deepen
nd widen trade
under the AEC to capture
greater share of global trade, it
is essential for ASEAN to work on strengthening and aligning structural reforms
doing business, regulatory and
frameworks, as well as
and investment facilitation measures
across the region,” he added.
“The private sector will continue to be a key driver for the
AEC’s realisation and we must now look to
implementing long-term strategies, plans and projects, with the due consideration and involvement of industry,
government and civil society in the planning
and decision-making process," commented Dato' Sri Abdul Wahid Omar, Minister in the Prime Minister's Department.