KUALA LUMPUR, APRIL 21 – Malaysian service providers must aspire to be global champions via more collaboration and partnerships forged between the public and private sectors, urged Minister of International Trade and Industry Dato Sri Mustapa Mohamed.
In launching the first ever Services Export Forum 2016 at Menara MATRADE today, Mustapa highlighted in his speech that the government can extend its support and facilitate development of the export sector through a number of incentives.
Among the incentives Mustapa revealed are Services Export Fund, Large Corporation-SME Partnership programme, Mid-Tier Companies Development Programme and GoEx.
“These incentives will address specific needs of export ready services firms not only through funding opportunities but other support measures such as consultation, market research and export promotion.
“The private sector must maximize the opportunities created by our initiatives. The private sector needs to play a more forceful role in driving their global business of services and develop innovative strategies to compete internationally.
“An excellent example of public-private sector collaboration initiated by the private sector which is the Malaysian Inc,” he said.
To boost the young entrepreneurs participation, Mustapa also emphasized that young entrepreneurs keen to grow their export market, the government will continue its support through the provision of training and export programs such as the Youth Exporters Development Programme by MATRADE.
The young entrepreneurs should capitalize the opportunity by taking financial facilities under Market Development Grant given by SME Bank and MIDF, he added.
Mustapa in his speech reinforced that the government when negotiating international trade agreements has always adopted a policy of openness and fair market access for our local exporters as well as foreign companies doing business in Malaysia.
The Services Export Forum 2016 will feature a number of speakers from Air Asia Berhad, Malaysian Association of ASEAN Young Entrepreneurs, MDEC and Health Tourism Council.
In Malaysia, the services sector accounts for around 53.9 per cent of Gross Domestic Product (GDP) and remain a key driver of growth for our economy.
Legal experts should explore international opportunities.
During press conference, Mustapa insisted that Malaysian Legal services should explore more business opportunities in TPPA member countries, ASEAN and Commonwealth countries.
He said that we hire more legal experts from the overseas rather than our legal eagles offer their services abroad.
Mustapa also added that by sending out legal experts to explore more abroad opportunities it will give a trade balance for our country.
He said at the moment our legal service in Malaysia is at a trade deficit and he hopes in near future a trade surplus will be attained.