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
economic growth
flourishes, attention on
ASEAN
as a
competitive and lucrative
marketplace, providing
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
ASEAN.
In addition, our
advanced integration
levels in the AEC are an important bridge
to
strengthen trade links and economic ties with our ASEAN neighbours so that we can leverage on the rising
demand for
seamless
interconnectivity
that is vital for
doing business
successfully
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
logistical
efficiency;
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
FDI.”
The minister noted that ASEAN has a part to play. “As the region seeks to deepen
a
nd widen trade
ties
under the AEC to capture
a
greater share of global trade, it
is essential for ASEAN to work on strengthening and aligning structural reforms
related to
ease
and certainty
of
doing business, regulatory and
legal
frameworks, as well as
financing
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.
