KUALA LUMPUR: Malaysia is ready for the implementation of the Asean Economic Community (AEC), driven by rapid growth in its small and medium-sized enterprise (SME) industry, the key to the nation's economic development.
The AEC's main objective is to transform all 10 members of the Asean into a one-stop global investment centre by 2015.
World Trade Institute external consultant Dr Sufian Jusoh said as a centre bordering most Asean countries, Malaysia had the advantage in terms of securing regional investment opportunities at the early stage.
“Our SMEs may produce components for other members countries as well as getting investors to come in to produce other parts of the same products, which can be supported by SMEs here.
“I would say that we are ready to be competitive because we have SMEs which are dynamic and we have conglomerates like Axiata and Petronas that can work together with these SMEs,” he said at a briefing on The Asean Comprehensive Investment Agreement (ACIA) forum.
He said Asean had the chance to become the new hub of global investment and benefiting from economic uncertainties in Europe and the United States. - Bernama
“We have 10 economic-diverse countries, and if they work together, with 500 million domestic consumers, we would manage to make Asean as a single destination for global investment,” he said.
The forum, which will be held here on Thursday, is expected to attract 200 participants.
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