Young entrepreneurs to play vital role in economic transformation
KUALA LUMPUR: Youth entrepreneurs are set to play a central role in the country's economic transformation as it positions itself within a rapidly changing Asean landscape, says the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).
President Datuk Ng Yih Pyng said young business leaders are not only the backbone of national transformation, but also central to strengthening Malaysia's standing in regional and global markets.
'When the youth prosper, the country prospers; when the youth are strong, the country is strong,' he said during his speech at the 14th ACCCIM Young Entrepreneurs Conference 2025 last Friday.
Ng highlighted that Asean's demographic strength represents both a large consumer base and a pool of entrepreneurial talent.
'Asean boasts nearly 700 million people, half of whom are under the age of 30. This represents a rising, young market with tremendous potential,' he said.
He added Malaysia was now at a critical stage of economic transformation and industrial upgrading, guided by the 13th Malaysia Plan (13MP).
'The plan's focus on high-value-added sectors, digital transformation and artificial intelligence will help local companies move from contract manufacturing to their own brands, enhancing overall competitiveness and position in the value chain,' Ng said.
He called on the government to ensure that foreign investment contributes directly to local growth. 'We recommend incorporating the principle of local priority into regulatory policies. This includes promoting technology transfer, talent training, sourcing local materials and increasing small and medium enterprises participation,' he said.
Deputy Investment, Trade and Industry Minister Liew Chin Tong, who also attended the event, said Malaysia and its regional peers must adapt to changes in global supply chains.
'Businesses have begun to accept that the world is no longer a single supply chain. It is likely to be a multi-regional supply chain,' he said.
Liew added Asean's ability to develop a stronger middle class would determine the region's long-term sustainability. 'If Asean can replicate China's experience in growing its middle class, then the region itself would become a significant market,' he said.
Meanwhile, ACCCIM Young Entrepreneurs Committee chairman Leon Lee said young entrepreneurs are vital in linking local businesses with opportunities in Asean and beyond.
'Young entrepreneurs are the backbone of national transformation, and your steps will determine the direction of our future,' he said. To support this, ACCCIM has introduced regional exchange programmes and partnerships to help local businesses expand and build stronger ties in the region.
This year's conference, themed 'Rooted in Asean, Radiating Globally', provided a platform for young entrepreneurs to connect with global peers and share insights.
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