‘TiE Secretariat-Asean A Good Platform To Capitalise On Indian Businesses’
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By Zarul Effendi Razali
KUALA LUMPUR, July 22 (Bernama) — The TiE Secretariat-Asean, represented by TiE Malaysia, can serve as a good platform in positioning Malaysia to capitalise on emerging Indian and non-resident Indian-owned businesses worldwide.
TiE Malaysia is the Malaysian chapter of Tie Global, an organisation that focuses on generating and nurturing the next generations of entrepreneurs.
TiE Malaysia Executive Zalina Abdul Aziz said collaborations with successful entrepreneurs of Indian origins could enhance Malaysia’s competitiveness as there was a natural fitment between Malaysia and these entrepreneurs.
“The long-term future for small to medium economies such as Malaysia is being part of a larger trading bloc with a market of 513 million people and combined gross domestic product of US$555.3 billion created by the Asean Free Trade Area.
“This secretariat is a step in the right direction to accentuate the concept of eventually having an integrated market for entrepreneurs throughout Asean,” she told Bernama after the TiE networking session here Friday.
She said that access to knowledge of opportunities in Asean countries would be critical in facilitating Malaysian entrepreneurs to secure opportunities in the region.
“To grow, achieve scale and be competitive, Malaysian businesses will have to expand regionally. Thus, eccess to information on opportunities in the region would be invaluable,” Zalina said.
She also said that coordinated effort in channeling Malaysia’s capital in particular to least developed Asean countries would provide avenues for Malaysian enterprises to package projects which produce enhanced returns on investment to Malaysia.
“This model has successfully been practised by Japanese corporations and increasingly by Chinese companies,” she added.
Malaysia has relative strength compared to India in terms of infrastructure and capital to support entrepreneurial activities while Indian entrepreneurs can close the gap in technology and innovation where Malaysia sorely lack.
TiE, with its strong memberships in India, the United States and United Kingdom, was an excellent provider of intellectual capital urgently required for Malaysia’s desire to move into higher value added sectors, Zalina said.
She said the secretariat could assist Malaysian entrepreneurs by opening channels for them to tap into the vast source of new technologies in India as a basis for innovative business models.
– BERNAMA
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Filed Under: Business
