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REMARKS BY HIS EXCELLENCY DATO’ MOHD ZAMRI MOHD KASSIM: GLOBAL ENTREPRENEURSHIP SUMMIT (GES) 2013

 

REMARKS  BY HIS EXCELLENCY DATO’ MOHD ZAMRI MOHD KASSIM AMBASSADOR OF MALAYSIA TO THE REPUBLIC OF THE PHILIPPINES AT THE NETWORKING RECEPTION WITH PHILIPPINE BUSINESS ASSOCIATIONS AND PRESENTATION OF THE 4th GLOBAL ENTREPRENEURSHIP SUMMIT (GES) 2013 DUSIT THANI HOTEL, MAKATI, 5 SEPTEMBER 2013
 
 
Ms. Milagros Salting, Chair, Trade Missions of Philippines Chambers of Commerce and Industry,
 
Mr. Amado Lim, Executive Director, Federation of Filipino-Chinese Chambers of Commerce and Industry,
 
Mr. Kenneth Go, President, Federation of Electrical and Electronics Suppliers and Manufacturers of the Philippines (PESA),
 
Mr. Peter Mangasing, Honorary President of the Association of Young Filipino-Chinese Entrepreneurs,
 
Mr. George C. Kintanar, Chairman of the Board, Chief Information Officers Forum, Foundation, Incorporated,
 
Representatives from the Philippines government, various business associations, chambers of commerce, Ladies and Gentlemen,
 
A very good morning,
 
It is truly an honour to be introduced to all of you today in this special activity organized by MATRADE Manila. The purpose of us being here is to get acquainted, make friends, and to build the contacts and networking that would allow for the flourishing of greater possibilities, opportunities and potential for trade collaboration and cooperation between the Republic of the Philippines and Malaysia. 
 
Honourable guests, ladies and gentlemen,
 
2.       Many exciting things are unfolding in Malaysia. Not only with tourism as you normally get to see from the media, but equally exciting are the trade and investment opportunities. Malaysia aspires to be a developed nation by 2020. Malaysia has a highly open economy and is a leading exporter of electrical appliances, electronic parts and components, palm oil, and natural gas.
 
3.       In the near future, Malaysia, as with the Philippines and other countries in the region, is gearing up towards the ASEAN Economic Community (AEC). We have prepared ourselves for the single market – a market of 600 million consumers and an estimated GDP of USD1.85 trillion.
 
4.       Allow me to highlight some facts and figures:
         
       4.1 Malaysia’s growth rate in 2012 is at 5.1% with a GDP of USD304  
             billion; 

       4.2 As at 2012, Malaysia’s total trade with the world reached USD424 
         billion, with exports at USD227 billion and imports at USD197 billion.

4.3     Malaysia’s trade balance during 2012 was a positive USD44     billion;

4.4   Malaysia is also externally competitive, ranking 12th out of 135 economies according to the World Bank 2013 in doing business report;

4.5   With regard to Malaysia and the Philippines, our bilateral trade in 2012 reached USD4.95 Billion;

4.6   For 2012, the Philippines was Malaysia’s 18th largest trading partner, 17th largest export destination, 19th largest source of imports and the 5th largest trading partner in ASEAN; and

4.7   On the other hand, Malaysia was the Philippines 11th largest trading partner, 11th largest export destination, 10th largest import source and 4th largest trading partner in ASEAN.
 
5.       What do all these numbers tell us? They tell us that the Malaysian economy still remains strong; that Malaysia is a good place to invest and do business; and that while trade and investment between Malaysia and the Philippines is good, there is potential for much, much more.
 
Honourable guests, ladies and gentlemen,
 
6.       En route to achieving the goal of being a Developed Nation by 2020, Malaysia has identified 12 National Key Economic Areas to pursue for the public and private sectors. These areas are: oil, gas and energy; palm oil; financial services; tourism; business services; electronic and electrical; wholesale and retail;education; healthcare; communications content and infrastructure, agriculture; and the Greater Kuala Lumpur/Klang Valley region. 
 
7.       Malaysia seeks to promote opportunities in regional establishments, shared services outsourcing, data centres, healthcare, logistics, tourism, education and environmental management. And in what better way to promote these than to offer very favourable incentives such as foreign equity at 100% with no restrictions on the repatriation of funds. 
 
8.       For an economy to fully benefit from the synergy in global services trade, there must be seamless movement across borders, restrictions on trade should be reduced or removed, and regulatory measures improved. Building competition and enhancing efficiency is essential in inspiring investor confidence. As such, Malaysia’s trade sector was further liberalised in 2012 to accommodate more sub-sectors, and to draw more investments in the legal, medical and dental fields; international schools; private universities; and telecommunications. Malaysia’s service sector, which contributed to 58% of the GDP in 2011, has also been liberalised. Incentives in the service sector include full tax exemption for 10 years and eligibility for Pioneer Status and income Tax Allowances.
 
9.       Having said all of that, the Philippines remains as one of Malaysia’s vital trading partners through engagements in mutually beneficial activities such as the one we are having now, the GES 2013, International Trade (INTRADE) Malaysia and other similar activities.   
 
Honourable guests, ladies and gentlemen,
 
10.     Allow me to speak regarding the upcoming Global Entrepreneurship Summit that will be held in Kuala Lumpur from 11 to 12 October 2013. This GES 2013 promises to be the global hive of everything entrepreneurship. First held in 2010 in Washington, DC USA and hosted by the US President Barack Obama, the GES 2013 Summit will be the first in East Asia.

11.     The theme for GES 2013 is "Empowering & Connecting Entrepreneurs". Entrepreneurs, thought leaders, researchers and aspiring entrepreneurs from all over the world will converge in Kuala Lumpur to meet, discuss, debate, share ideas, connect and network.

12.     As host of GES 2013, the Government of Malaysia, working together with its community of entrepreneurs and innovators will be approaching 80 practitioners and thought leaders to share their views with the entrepreneurial community from around the world on such topics as innovative business models, disruptive innovation, the maker movement, digital entrepreneurship, finding innovative funding, ways to develop and retain talent, taking start-ups global, learning from success and failure, and many, many more. Kindly mark 11th and 12th October 2013 on your calendars, to satisfy your entrepreneurship craving during this prestigious event.
 
Honourable guests, ladies and gentlemen,
 
13.     I wish you all the best for today’s event. To meet each other personally through the introduction of friends or common acquaintances is a very profound gesture of sincerity. To put a face to a name by meeting someone personally is a very important factor in doing business, for Malaysians, and I know for Filipinos too.
 
14.     For those of you who would be interested to know more about the business opportunities in the different parts of Malaysia, you may approach our trade office MATRADE, and they will be very glad to offer you their utmost and sincere assistance.
 
I thank you and Maraming Salamat.