MCEC & MCYEC 2021 - Opening Speech

 Malaysia-China Chamber of Commerce

The 11th Malaysia-China Entrepreneurs Conference and

the 2nd Malaysia-China Young Entrepreneurs Conference

(MCEC & MCYEC 2021)

 

Speech by MCCC President Datuk Tan Yew Sing

21 November 2021

 

 

1.     On behalf of the Malaysia-China Chamber of Commerce (hereinafter referred to as MCCC), I would like to thank all supporting units and strategy partners for facilitating the holding of the 11th Malaysia-China Entrepreneurs Conference and the 2nd Malaysia-China Youth Entrepreneurs Conference (MCEC & MCYEC 2021). I would also like to extend my sincere gratitude to leaders from all walks of life around the world for participating in this event, both virtually and in person.

 

2.        Since the outbreak of the COVID-19 pandemic in early 2020, we have not thought that this will be a protracted challenge. Even though the pandemic has led to lockdown of countries and suspension of social and economic activities, which greatly impacted the global economy and peoples’ livelihood, governments and the peoples all over the world actively broke through border closures and lockdown restrictions with the help of advance technologies, moving business, meetings, trade and exhibitions online. This not only reflects our resilience in face of adversity, but also our ability to transform challenges into opportunities.

 

3.        The best example is this annual event of MCCC. Last year, we and our joint organizer, the Fujian Provincial Department of Commerce, shifted to “cloud conferencing” in response to the pandemic, and encouragingly, the number of participants reached an all-time high. This year, we decided to continue holding the conferences both virtually and physically, focusing on “RCEP Key Prospect and Challenge” as the theme. Based in Kuala Lumpur, Malaysia, activities of the conferences will be broadcast live on local and foreign online platforms, allowing those who cannot attend in person to participate virtually.

 

Ladies and gentlemen,

 

4.    As of 2 November, this year, 10 countries participating in the RCEP agreement have formally submitted their approval to the Secretary General of ASEAN. In other words, RCEP will come into force in these 10 countries from next year, and our government also promises to complete the approval process of RCEP in mid-December. We hope that Malaysia will actively implement its promise for the RCEP to take effect as soon as possible, so as to help local enterprises expand their businesses in the post-pandemic era by grasping the abundance of opportunities in this huge market.

 

5.   MCCC believes that the effective implementation of RCEP will not only effectively boost the confidence of all parties in economic growth and improve the level of regional integration in East Asia, but also effectively promote the integration of regional industrial chain, supply chain and value chain. In addition, coupled with the development trend of the Belt and Road Initiative, economic and trade cooperation between Malaysia and China will become closer, and more conducive to achieving mutual benefiting and win-win results, and in turn, make greater contributions to the common development and prosperity of the region.

 

6.   After most of the population have been vaccinated with two doses of COVID-19 vaccine, the governments of many countries and regions have reopened economic and social activities, classifying the COVID-19 pandemic as an endemic and allowing the peoples to co-exist with the virus. Malaysia also began to re-open almost all its economic fields in October. The government and enterprises are also actively promoting economic recovery.

 

7.    With the accelerated pace of global vaccination, governments of various countries have gradually relaxed border restrictions, including taking measures to welcome travelers who have completed two doses of vaccine. The Malaysian government and enterprises should lay out and share resources for post-pandemic economic recovery. The competitive advantages of Malaysia's investment environment are mainly reflected in five aspects: its superior geographical location, strategically in the heart of ASEAN, makes it a springboard for businesses to enter the ASEAN market and expand to Australia, New Zealand as well as the Middle East; Solid economic foundation and favorable growth prospect; Abundant of raw material resources; High quality of human resources and low wages; Harmonious national environment and relatively stable political situation. These are all the advantages of attracting foreign capital, especially Chinese capital.

 

8.     China's achievements in digital development and high technology have always been at the forefront, and Chinese e-commerce platforms are now at a very mature stage. For traditional enterprises in Malaysia that are about to or have entered the digital transformation, we can learn from the marketing strategies of China's e-commerce industry, especially live marketing, to improve our competitiveness and service quality in emerging markets. One of the key events of the Malaysia-China Young Entrepreneurs Conference (MCYEC) in today afternoon is digital transformation. Professionals in relevant fields are invited to share with participants on ways to layout and develop business with cloud computing, means to carry out marketing with online celebrities, and methods to measure effectiveness of these marketing strategies.

 

Ladies and gentlemen,

 

9.   As we are in an ever-changing era intertwined with an unprecedented pandemic situation, the uncertain factors of global development have elevated. Whenever science and technology improve global productivity, innovative thinking and new business models will be created. Entrepreneurial opportunities are only available to those who are prepared. Now that Malaysia is vigorously promoting the digital economy, the application of science and technology also has potential to improve the efficiency on the service of traditional industries, improve the quality of products, and open up new business opportunities for local enterprises.

 

Malaysia and China are forging ahead on their own track of development. Malaysia has launched various supporting measures for economic revitalization during the pandemic, injected funds into the market and tried to protect the economy. At the same time, the 12th Malaysia Plan launched in September and the Budget 2022 launched at the end of October have set out the direction for promoting economic recovery and revitalizing the country.

 

10.   Malaysia and China share a long-standing friendly relation and are highly complementary with each other development needs. They are natural partners. I believe that with the joint efforts of Malaysia and China overcoming COVID-19, we will usher in a new development with mutual benefiting and pragmatic cooperation and continuous promotion of economic and trade exchanges between the two countries.

 

11.    Lastly, I would like to extend my deepest appreciation to the Chief Minister of Selangor YAB Dato’ Seri Amirudin bin Shari and China Ambassador to Malaysia H.E. Ouyang Yujing, as well as all supporting units and partners for working together to ensure the smooth convening of today conferences. I hope all participants, both virtually and in person, have a rewarding experience, and I wish you all good health, success, and prosperity.

 

 

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