Latest news with #Asean-wide
New Straits Times
06-08-2025
- Business
- New Straits Times
Asean Tech Summit 2025 eyes over RM200mil in innovation deals
KUALA LUMPUR: The Asean Technology Cooperation and Development Summit 2025 aims to secure over RM200 million in innovation and investment deals during its two-day run on November 25–26 at the Malaysia International Trade and Exhibition Centre (Mitec). Intrinsic SEA's chief executive officer, Ravenna Chen, said over 100 companies, more than 50 global investors and 2,000 innovators and ecosystem leaders from Asean, China, Canada, Europe and other regions are expected to attend the summit. "We plan to host over 50 top investors from across the globe, featuring five startup pitches and five scale-up pitches. In addition, four major corporate innovation platforms will be launched by companies that are well-prepared and actively seeking innovative solutions. "Internally, our management fund is worth 200 million Canadian dollars. We aim to leverage our networks in Canada, Japan and China to invest in South Asia as well," she told reporters at today's soft launch and media preview of the Asean Technology Cooperation and Development Summit 2025. The soft launch was graced by the Deputy Science, Technology and Innovation (Mosti) Minister Datuk Mohammad Yusof Apdal. The summit, organised by Intrinsic SEA, is a flagship forum held alongside WE2025: Future in Motion, a three-day programme from Nov 25–27, 2025, organised by Qube Integrated Malaysia Sdn Bhd. "WE" stands for Women's Economics, Empowerment, Women Entrepreneurship, Women Excellence and Women Evolution. The summit will focus on five strategic pillars, namely: future mobility and smart transportation, future healthcare and digital medicine, future consumer and digital commerce, future building and safety emergency response, and future employment and entrepreneurship. Key highlights include ministerial and industry roundtables on strategic innovation, a next-gen technology exhibition with over 100 frontier solutions, and Asean future cities and investment opportunity spotlights. With over 50,000 expected livestream viewers, the summit will further position Malaysia as a key enabler of Asean-wide collaboration in science, technology and innovation. In his keynote speech, Mohammad Yusof said the summit reflects Malaysia's ambition to lead regional innovation, strategic partnerships, emerging technologies and inclusive growth. "At Mosti, our mission is anchored in a clear vision to transform Malaysia from a technology user into a global technology developer with global market capabilities by 2030," he said. Meanwhile, Qube Integrated Malaysia executive chairman Richard Teo said WE2025 champions inclusive economic growth by empowering women in trade, investment and leadership. "While this summit welcomes all participants, it upholds that spirit by ensuring women have meaningful opportunities to lead in tech innovation – a sector where inclusive participation is urgently needed," he added.
New Straits Times
01-07-2025
- Business
- New Straits Times
Malaysia poised for long-term benefits in Asean self-reliance drive
KUALA LUMPUR: Malaysia is well-positioned to reap long-term benefits as Asean intensifies efforts to build a more self-reliant and resilient regional economy amid shifting global dynamics. At the Invest Asean-Malaysia Conference, experts underscored Malaysia's strategic role in Asean's ambitions to deepen intra-regional cooperation and reduce dependence on external sources of capital, technology and supply chains. Nanyang Technological University Emeritus Professor Tan Kong Yam said Malaysia is central to Asean's strengthening ties with China, especially as global supply chains are realigned due to escalating tensions between the United States and China. "China views Asean as a strategic bridge out of its geopolitical encirclement," Tan said, citing long-term Chinese investments in infrastructure such as ports and transport networks in Malaysia. "These investments not only stimulate Malaysia's economy but also establish the foundation for a robust Asean-wide supply chain," he added. Tan also noted that Malaysia's respected standing in the Islamic world, bolstered by its leadership, enhances its position as a key partner in China's broader diplomatic and economic outreach. DHL Express Malaysia & Brunei managing director Julian Neo highlighted the significant progress Asean has made in strengthening supply chain resilience. "Asean has emerged stronger from crises such as SARS and the Covid-19 pandemic," he said, pointing to expanded investments in logistics infrastructure, including DHL's own facilities in Singapore and Malaysia, which have enhanced regional connectivity. Such improvements, he added, have positioned Malaysia as a growing logistics hub capable of handling increasing trade volumes and foreign direct investment into the region. Still, both Tan and Neo acknowledged that Asean's industrial capacity remains insufficient to achieve full self-sufficiency, with the region continuing to rely on imported components from countries such as China, Japan and South Korea. While China's cost advantages and scale make it an indispensable partner, Tan warned against overdependence on any single nation. He urged Asean, and Malaysia in particular, to diversify its supply chain linkages to include Japan, South Korea and even the United States. This diversification, he said, is key to reducing vulnerabilities and strengthening the region's industrial base. By cultivating partnerships across multiple economies, Asean can gradually build self-sufficiency in critical sectors. Tan also pointed to emerging global strategies — such as nearshoring, friend-shoring and onshoring — as opening new opportunities for Malaysia. With global manufacturers seeking to diversify operations away from traditional hubs, Malaysia's competitive labour costs, improving infrastructure and strategic proximity to key markets make it an increasingly attractive destination. He cited Apple's internal calculations showing that relocating large-scale manufacturing to the United States would increase costs by six to seven times compared to China — underscoring Malaysia's cost-effectiveness in the global production chain. Neo, meanwhile, noted a growing demand for shorter lead times in global supply chains. With ongoing investments in logistics hubs and technological upgrades, he said Malaysia is well-equipped to support this shift — further reinforcing its role in the global economy.
The Star
11-06-2025
- Business
- The Star
Asean TVET Council must chart a clear path forward, says Zahid
MELAKA: The Asean TVET Council 4th Regional Policy Dialogue (ATC 4th RPD) must chart a clear way forward for Technical and Vocational Education and Training (TVET), says Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi ( pic ). He said the dialogue is about building an Asean-wide ecosystem, one that places TVET at the centre of the region's future, with the Asean TVET Council as the nerve centre that connects policies, aligns standards, and drives shared growth. "First, we must expand TVET access to rural communities, especially youth, because the future cannot be built on urban skills alone. "In Malaysia, GiatMara, a long-standing TVET institution under Majlis Amanah Rakyat (Mara) and my ministry, has shown what's possible. It has equipped rural youth with skills, and over 50 graduates have become millionaires in various technical fields," he said in his keynote address at the ATC 4th RPD, themed "TVET for Rural and Regional Advancement" here on Wednesday (June 11). Also present were Melaka Chief Minister Datuk Seri Ab Rauf Yusoh, Melaka State Secretary Datuk Azhar Arshad, Deputy Minister of Rural and Regional Development Datuk Rubiah Wang and representatives from Asean, Germany and Australia. He emphasised that Asean must work to bridge the skills gap by promoting industry-driven, demand-based training programmes. According to him, the region needs a talent pipeline shaped by the needs of factories, plantations, and emerging green industries across Asean, and to achieve this, it requires industries to co-develop training, share apprenticeships, and open cross-border job opportunities. "Thirdly, we must build TVET as a full ecosystem, aligning education, industry, infrastructure, certification and digital access, all guided by data and coordinated by ATC," he said. Ahmad Zahid said that as Asean Chair this year, Malaysia is ready to coordinate and lead. "We propose the formalisation of Malaysia as the Asean TVET Certification and Excellence Hub, and we look forward to the full support of all member states in making this a shared regional legacy," he said. He said TVET is no longer on the sidelines, as it now stands at the very centre of national economic strategies, and in this global race for relevance, skills are the new currency. "Malaysia is not only championing skills development, but also laying the groundwork for Asean to become a TVET powerhouse. "Let us work together to ensure TVET remains accessible, relevant and future-proof for all. Let us commit to building an Asean where no talent is left untapped and no community is left behind. "With the right mix of training, mentorship and market access, TVET becomes a powerful tool for poverty eradication and generational change," he said. – Bernama
The Star
26-05-2025
- Business
- The Star
Removing barriers will hasten integration, say experts
PETALING JAYA: Asean countries must tackle persistent regulatory and financial barriers that continue to hinder regional economic integration, say experts. Economist Geoffrey Williams said there are still many trade barriers among Asean countries, especially for small and medium enterprises (SMEs). 'Asean needs to establish a framework to identify regulatory barriers across all areas. 'This process should systematically remove or harmonise regulations at the lowest cost,' he said when contacted. Williams said there are still many constraints on simple issues, such as setting up businesses, bank accounts, and even payment transfers. 'Harmonising regulations on payment transfers, reducing transaction costs and building common platforms for e-payments is essential,' he said. Asean countries still vary greatly in economic development, political systems, and economic self-interests. This variance, he said, is holding back closer integration. 'Tourism provides a good model because private-sector-driven business models make travel, accommodation and currency exchange easy. 'So integration is not impossible if it is market-driven, but it is proving difficult if it is government-driven,' he explained. He said Asean can follow a market-driven integration model using technology platforms and e-commerce which avoids brick-and-mortar business models and moves online. 'An Asean-wide digital nomad visa would be a good idea and would be attractive for the region as a whole while reducing competition between countries. 'Another Asean-wide entrepreneur visa would also be helpful in reducing costs, especially for the non-Asean business community. 'This would allow foreign investors to move easily around the 10 member states,' he argued. Centre for Market Education chief executive officer Carmelo Ferlito said going cashless can become a burden if a person needs to have a different app in each country. 'I travel often to Indonesia, and I struggled with their cashless system, which must be linked to a local bank. 'So I think having more integration is good, but in reality, it is better to increase options rather than reducing them,' said the economist. At a special media briefing on May 21, Prime Minister Datuk Seri Anwar Ibrahim outlined a strategic vision for Asean's next phase of growth. Under Malaysia's Asean chairmanship this year, he emphasized stronger economic integration, trade expansion, and cross-border energy connectivity as key pillars.
The Star
26-05-2025
- Business
- The Star
Address long-standing trade barriers, Asean members told
PETALING JAYA: Economists are calling for Asean countries to address long-standing barriers that hinder economic integration among member states. Despite close and strong cooperation, the situation can be improved by addressing key regulatory hurdles and inconsistent financial systems. ALSO READ: Asean leaders assemble in KL today for key summit, related meetings Economist Geoffrey Williams said there are still many trade barriers among Asean countries, especially for small and medium businesses (SMEs). "Asean needs to establish a framework to identify regulatory barriers across all areas and begin a process to systematically remove them or to harmonise regulations at the lowest cost," he said, when contacted yesterday. Malaysia, as Asean Chair is the host of 46th Asean Summit and Related Summits. Wisma Putra is taking the lead in organising these summits under Malaysia's Asean chairmanship this year with the theme 'Inclusivity and Sustainability'. Two other high-level meetings – the 2nd Asean-Gulf Cooperation Council (GCC) Summit and the Asean-GCC-China Economic Summit – will also be held. Williams said there are still many constraints on simple issues such as setting up businesses, bank accounts and even payment transfers. "So harmonising regulations on payment transfers, reducing transaction costs and building common platforms for e-payments is essential. "Even issues related to the free movement of workers are underdeveloped as Asean members protect their own labour markets," added Williams ALSO READ: Asean-GCC-China model will help forge inclusive, sustainable future, says Anwar Asean countries, said Williams, are still very different in terms of economic development, political systems and the economic self-interests of each country and this holds back closer integration. "Tourism provides a good model because private sector driven business models make travel, accommodation and currency exchange easy. "So integration is not impossible if it is market driven but it is proving difficult if it is government driven," he explained. He said Asean cannot follow the integration model of the EU for example because that is government driven but it can follow a market driven integration model using technology platforms and e-commerce which avoid brick-and-mortar business models and move online. "An Asean-wide digital nomad visa would be a good idea and would be attractive for the region as a whole while reducing competition between countries. "Another Asean-wide entrepreneur visa would also be helpful in reducing costs, especially for the non-Asean business community allowing foreign investors to move easily around the 10-member states," he argued. Centre for Market Education chief executive officer Carmelo Ferlito said forcing cashless can become a burden if a person needs to have an app in each country, but instead such initiative can be linked with a local bank account. "I travel often to Indonesia and I struggled with their cashless system, which must be linked to a local bank. "Some places do not accept any other form of payment. "So I think having more integration is good but in reality it is better to increase options rather than reducing them," said the economist. He also said that abolishing barriers to entry was much more effective rather than thinking about cashless. "Good infrastructure and fast procedures, this is what travellers want. Cashless is an option but not a game changer. More tourism or travel affects the generality of the economy," said Ferlito. At a special media briefing on May 21, Prime Minister Datuk Seri Anwar Ibrahim outlined a bold strategic vision for Asean's next phase of growth, emphasising stronger economic integration, trade expansion and cross-border energy connectivity as key pillars under Malaysia's Asean chairmanship this year. Responding to questions on the direction of the regional bloc amid growing global geopolitical competition, Anwar said Malaysia is determined to drive Asean beyond its traditional role as a neutral platform towards becoming a more cohesive, values-driven force in the Indo-Pacific. "As part of our thrust this year, we are focusing on strengthening Asean's cohesiveness, increasing economic interest and trade, and boosting investments among member countries," he said.
