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Asean Economic Community AEC – 2015 FORUM “ Selangor the Gateway to AEC”. An Overview of Opportunities and Challenges 3 rd December 2013. FMM SELANGOR . GDP GROWTH RATE (%). * *. FMM SELANGOR . Malaysia’s Standing. 24 th Trading Nation in the World

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asean economic community aec 2015 forum selangor the gateway to aec

AseanEconomic CommunityAEC – 2015 FORUM“Selangor the Gateway to AEC”

An Overview of Opportunities and Challenges

3rd December 2013

FMM SELANGOR

slide2

GDP GROWTH RATE (%)

*

*

FMM SELANGOR

malaysia s standing
Malaysia’s Standing
  • 24th Trading Nation in the World
  • 18th Most Competitive Country (WEF)
  • 6th In Ease of Doing Business
  • Strong Banking Institution
  • Ease of Credit Facility (WB)
  • GDP Growth 4% +.

FMM SELANGOR

malaysia s restrictions
Malaysia’s Restrictions
  • Limitation of Labour
  • Cost of Labour
  • Cost of Infrastructure
  • Cost of Production
  • Limitation of Specific Raw Materials.

FMM SELANGOR

business communities dilemma
Business Communities Dilemma

Between 2013-2015, Businesses need to deal with:

  • Minimum wage
  • New retirement age
  • GSP removal
  • GST Implementation
  • TPPA
  • MEUFTA
  • AEC
  • Removal of Subsidies.

FMM SELANGOR

opportunities under aec
Opportunities Under AEC

Market Statistics

MalaysiaAsean

Population 30M 600M

GDP US$490B US$2300B

Per Capita Income US$10,300 US$3,700

Growth 4% >6%.

FMM SELANGOR

opportunities under aec1
Opportunities under AEC
  • Huge market of over 600M
  • Business opportunities:
    • Growing Market
    • Rising Middle Class
    • Higher Per Capita Income
    • Affluent Lifestyle
    • Education
    • Increasing Tourism/Medical Tourism.

FMM SELANGOR

opportunities under aec2
Opportunities under AEC
  • Outsource/shift production to low cost Areas
  • Shifting operations to Raw Materials Source
  • Specialization of production for MNC’s
  • JV for economies of scale.

FMM SELANGOR

sme s concerns under aec
SME’s Concerns under AEC
  • Influx of cheap items-through Asean countries
  • Dumping directly or indirectly through Asean
  • Competition from low cost manufactures and service providers.

FMM SELANGOR

slide10

Improve efficiency, productivity or move on

  • Complement high end sector
  • J.V –similar, downstream, upstream

Selangor Gateway to Asean

  • Opportunities to supporting industry
  • Competition to existing industry

High End Industry/ Services Sector

Marginal Industry/ Services Sector

Selangor Towards a Developed State

Supporting industry

  • Huge opportunity
  • Branding.

Education/ Tourism/

Medical Tourism

Halal Sector

FMM SELANGOR

asean as a community
Asean as a Community
  • Nationalistic sentiments
  • Political stability and policy
  • Legal procedures
  • Language/culture/customs
  • NTB to prevent entry-e.g. quality standard, buy local…

FMM SELANGOR

asean as a single market
Asean as a Single Market
  • Command better bargaining power
  • Efficient use of capacity/resources
  • Higher per capita Income
  • Eradicate poverty within Asean
  • Equal opportunity within Asean
  • Balanced growth
  • Ready for open market.

FMM SELANGOR

business enhancement
Business Enhancement
  • Capacity Building for Local SME’s
  • R&D assistance center
  • Quality enhancement to assist SME
  • 3rd Country Financial Assistance
  • Specific Agency to guide SME’s going abroad.

FMM SELANGOR

business enhancement1
Business Enhancement

Asean

  • Bureucratic Requirement’s to be simplified
  • Harmonization of Legal, Taxation, Immigration, Customs, Standards…

FMM SELANGOR

slide15

How Selangor State can Prepare for AEC

  • Set up more Industrial Parks, for example, a Halal hub
  • Ensure all infrastructure & utilities such as water, electricity, high speed broadband are readily available
  • Are the Ports able to handle the expected higher volume of trade after the implementation of AEC?
  • Can the State provide investment incentives to both FDI & DDI?

FMM SELANGOR

slide16

Final Preparation for a Broader Perspective

Implementation should be phased out and implemented at

a comfortable phase for all.

AEC is broad based and not just a G to G initiative

it involves the whole asean community

If AEC is successful then we should be ready for the broader perspective.

FMM SELANGOR

slide17

Thank YouAbdul Samad IbrahimVice Chairman and Chairman of the Strategic Policies and Economic Affairs Working Sub-Committee

FMM - Selangor

FMM SELANGOR