Latest news with #MuhammadAimanAsyrafHanafi
Barnama
26-05-2025
- Business
- Barnama
- Elevating Our Reputation As A Good Global Partner
26/05/2025 03:36 PM Opinions on topical issues from thought leaders, columnists and editors. By : Muhammad Aiman Asyraf Hanafi Hosting the ASEAN Summit establishes Malaysia as a diplomatic leader in the region and a temporary centre for heightened economic activity. The immediate economic effects are multifaceted, influencing areas such as tourism, logistics, trade promotion, and infrastructure development. The nation experiences a significant yet impactful increase in local economic activity as it hosts heads of state, diplomats, corporate leaders, and media representatives. The Summit's most immediate effect is the surge in tourism and hospitality. Numerous attendees, comprising government officials, foreign business leaders, and journalists, converge in Malaysia for the event. Hotels, particularly in Kuala Lumpur or the chosen host city, witness heightened occupancy, while restaurants, transportation services, and event venues see a rise in reservations and utilisation. This concentrated effort enhances earnings for the hospitality industry while simultaneously generating temporary employment and increasing service demand. The Summit concurrently enhances the visibility of Malaysian small and medium-sized firms (SMEs). The summit's business displays, networking sessions, and ancillary forums provide a venue for local companies to present their products and services to prospective partners throughout Southeast Asia. The event provides Malaysian entrepreneurs in halal food, digital services, green technology, and manufacturing with chances for regional collaboration, brand visibility, and export potential. Infrastructure preparedness Furthermore, the ASEAN Summit frequently expedites infrastructure preparedness. The government generally implemented enhancements to facilities, transportation networks, and telecommunications to meet international standards. These investments create a lasting legacy, enhancing the host city's infrastructure and digital connectivity long beyond the summit. Enhancements in broadband connections, public transport, and urban facilities advantage both people and enterprises. The event additionally functions as a venue for promoting trade and investment initiatives. Malaysia can advance national economic policies, advocate for regional trade agreements, and declare memorandums of understanding (MOUs) or investment commitments through official meetings and bilateral negotiations. These interactions foster optimism in domestic markets and enhance Malaysia's prominence as a competitive commercial hub within the ASEAN region. The international media attention during the Summit enables Malaysia to elevate its global reputation. Government entities frequently synchronise tourist and business initiatives to leverage this visibility, portraying the nation as culturally affluent, economically advanced, and diplomatically engaged. This form of soft power branding facilitates the attraction of prospective investments, conventions, and tourists. More than a platform for diplomacy Hosting the Summit incurs costs, such as security, logistics, and organisational infrastructure, however, these prices are typically mitigated by the economic and reputational benefits. The immediate effects encompass an increase in domestic consumption and service revenue, but the long-term advantages entail trade opportunities, foreign direct investment interest, and regional policy influence. In conclusion, the ASEAN Summit provides Malaysia with more than only a platform for diplomacy. It acts as a stimulant for economic activity, international involvement, and national branding. When utilised successfully, the Summit may strengthen Malaysia's position as a regional economic leader while providing tangible, immediate advantages to its economy. -- BERNAMA Muhammad Aiman Asyraf Hanafi (aimanasyraf@ is a Lecturer at the Department of Social Science, Centre for Foundation in Science, Universiti Malaya. (The views expressed in this article are those of the author(s) and do not reflect the official policy or position of BERNAMA)
Malaysian Reserve
24-05-2025
- Business
- Malaysian Reserve
46th ASEAN Summit cements Malaysia's status as regional leader and economic hub
By AUFA MARDHIAH MALAYSIA'S role as host of the 46th ASEAN Summit has reinforced its standing as a diplomatic and economic leader in the region, while bringing immediate benefits across tourism, trade, infrastructure, and international branding. The gathering of regional leaders, government officials, business executives and foreign media has turned Kuala Lumpur into a temporary centre for high-level economic activity, said Universiti Malaya's Department of Social Science lecturer Muhammad Aiman Asyraf Hanafi. 'One of the most direct impacts was seen in the tourism and hospitality sector, where hotels, restaurants, transportation providers and event venues experienced a surge in demand. 'This concentrated activity boosts revenue in the services sector and generates short-term employment,' he said in a statement. Additionally, local small and medium-sized enterprises (SMEs) also benefit from increased exposure through exhibitions, networking sessions and forums held on the sidelines of the Summit. Entrepreneurs in halal food, digital services, green technology and manufacturing are given platforms to engage potential regional partners and expand export visibility. 'ASEAN events like this present valuable opportunities for Malaysian businesses to showcase their capabilities and forge cross-border collaboration,' Muhammad Aiman said. In preparation for hosting duties, the government also ramps up infrastructure enhancements to meet global standards, including improvements in transport, broadband and urban facilities. Universiti Malaya's Department of Social Science lecturer Muhammad Aiman Asyraf Hanafi These upgrades, he said, leave a lasting legacy that benefits local communities and businesses well beyond the event itself. Albeit, at the policy level, the Summit serves as a key venue for Malaysia to promote economic priorities, pursue trade agreements and secure bilateral investment commitments through official meetings and side engagements. 'These moves help position Malaysia as a competitive business destination within ASEAN and generate investor confidence,' he added. Muhammad Aiman added that the event's international media coverage allows the country to amplify its global reputation and soft power. Moreover, coordinated efforts by government agencies also help project Malaysia as a culturally rich, economically vibrant and diplomatically active nation. However, Muhammad Aiman emphasised that despite the expenses involved in security, logistics, and organising the event, the overall benefits typically surpass the cost. 'The short-term rise in domestic consumption and service demand is matched by longer-term outcomes such as foreign direct investment, trade growth and regional influence,' he said. Nonetheless, if fully leveraged, he believes the 46th ASEAN Summit could elevate Malaysia's position as a regional economic leader while delivering tangible benefits for the country.
