Monday, November 27, 2017

KEYNOTES ADRESS - 100 MOST INFLUENTIAL YOUNG ENTREPRENEURS (MIYE) 2017 GALA DINNER

Bismillahirrahmanirrahim

Yang Berbahagia Dato’ K.K. Chua
Managing Director,
Armani Media Sdn Bhd /

Founder, Entrepreneur Insight

100 Most Influential Young Entrepreneurs;

Distinguished guests

Members of the Media

Ladies and gentlemen

Assalamualaikum warrahmatullahi wabarakatuh

Salam Sejahtera and Salam 1Malaysia

A very good evening to all our wonderful guests.

First of all, my appreciation to Entrepreneur Insight (EI) and Armani Media Sdn. Bhd. for giving me the privilege to grace this prestigious occasion. Being invited to share this exceptional celebration with you all is very exciting for me, because gathered here to celebrate this remarkable event are eminent entrepreneurs from all over Malaysia. It gives me great pleasure to present The 100 Most Influential Young Entrepreneurs (The 100 MIYE) 2017 Awards this evening.

The 100 MIYE acknowledges bold, creative and innovative young Malaysian entrepreneurs who set the standards of Malaysia’s enterprising spirit. They are pioneers in their respective industries. They run incredible ventures, proving there’s no substitute for hard work, tenacity and some ingenuity to get to where they are today.

I was told that the award is one of its kind that recognise entrepreneurs on a personal level in terms of achievements in the business sphere. These award-winning recipients are being recognised and honoured for their vision and business acumen in successfully adapting and adjusting to today’s competitive business climate and ever evolving needs and trends.

Tonight, the 100 MIYE will confer recognition to eminent entrepreneurs in different fields. I would like to congratulate each of the award recipients and wish you every success. Your commitment to success, your excitement for what you can contribute to the country, and your motivation to excel against all odds, are shining examples for other entrepreneurs. You should be very proud of your achievements.

On that note, I applaud Entrepreneur Insight (EI) and Armani Media Sdn. Bhd. for successfully organising the 100 MIYE for the second time since its inauguration last year. I particularly like to express my congratulations to Yang Berbahagia Dato’ KK Chua, Founder of Armani Media for creating the 100 MIYE Award.

This initiative has inspired Malaysian entrepreneurs with the qualities and charisma as industry leaders in the various fields. Namely, in art and style, education, entertainment, fashion design, finance and investments, food and beverage, gaming, law and policy, manufacturing, marketing, advertising and public relations, real estate, retail and commerce, science, medicine, sports, technology and etcetera.

Ladies and gentlemen

The Ministry of International Trade and Industry (MITI) is the key ministry responsible for positioning the country as the preferred destination for foreign investments and for promoting international trade.

With forward-thinking, progressive trade and industrial policies, Malaysia emerges as one of the fastest growing economies in East Asia in the last 25 years. Malaysia has been successful in transforming the primary commodity-based economy to one that is upper middle-income and industrialized.

Under the Eleventh Malaysia Plan (11MP), MITI has undertaken several major initiatives in 2016 to boost Malaysia’s economy, and for industries to move up the global value chain.

These major initiatives under 11MP include a number of roadmaps and blueprints that were launched:

The National eCommerce Strategic Roadmap (NeSR), including the establishment of the first Digital Free Trade Zone (DFTZ) in the world, outside of the People’s Republic of China (PRC). The DFTZ provides a digital ecosystem for companies to conduct their eCommerce operations. The DFTZ also boosts growth and usage of eCommerce in the country;

The establishment of the Fourth Industrial Revolution, also known as Industry 4.0 (IR4.0), particularly at the company level, to sharpen Malaysia’s competitiveness in the manufacturing industry. MITI collaborates with the relevant Ministries and Agencies, and industry captains, to develop a National IR4.0 Policy, and action plans;

The National Aerospace Blueprint continues to chart the transformation of Malaysia’s aerospace industry. The Government projects, the industry will generate a total revenue of RM55.2 billion. It includes the creation of 32,000 high-skilled jobs by 2030 in aerospace activities, such as aircraft maintenance, repair and overhaul (MRO) services, and the manufacturing of high-tech components;

The Services Sector Blueprint, launched in 2015, aims to unlock the potential of the sector and transform it, to become more knowledge-intensive and innovation-led; and

Small and Medium Enterprises (SMEs) play a significant role in Malaysia and are vital generators of employment and income as well as drivers of innovation and growth. SMEs are the backbone of Malaysia’s economy, accounting for 98.5 per cent of total 907,065 business establishments. SME GDP growth is estimated to expand between 5.0 and 6.0 per cent in 2017.

Ladies and gentlemen

Entrepreneur development is one of the main tasks and focus areas carried out by MITI, including for the youth and SME. In 2017, MITI and agencies implemented 57 programs for SMEs with an allocation of RM2.3 billion which benefit 5,936 SMEs. Among programmes for SMEs implemented by MITI and agencies are:

No
Agency
Programme
1.
MITI
  1. Program Peningkatan Prestasi / Keupayaan dan Daya Tahan PKS
  • One District One Industry (SDSI)
  • Groom Big (GB)
  1. Geran Penyelidikan dan Pengkomersilan
    Vendor Bumiputera (GPPV)
  2. Program Pembangunan Kapasiti Vendor
    Bumiputera (PPKV)
2.
MATRADE
  1. Go Export
  2. Mid-Tier
3.
SME Corp.
  1. Tunas Usahawan Belia Bumiputera (TUBE)
  2. Galakan Eksport Bumiputera (GEB)
4.
SME Bank
  1. Skim Anjakan Usahawan (SAU)
  2. Best Exporter
5.
MIDF
Soft Loan Scheme for Automation and Modernization (SLSAM)


The Government has launched ‘Transformasi Nasional 2050’ (TN50), an initiative to plan for the future of Malaysia in the period of 2020 to 2050. The goal is to position Malaysia, as a developed nation, among the top countries in the world, in terms of economic development, citizen wellbeing and innovation.

It’s crucial for the youth to understand the current developments and actively participate in the various initiatives undertaken by the Government such as the TN50, to collectively chart the future and right direction for the country.

Ladies and gentlemen

Representing 98.5% of total business establishments in Malaysia, SMEs are the key catalyst to Malaysia’s economic growth towards achieving a high-income and inclusive nation by 2020. SME development in Malaysia has charted an unprecedented journey over the last decade where SME growth has consistently sustained at a higher level than the overall GDP growth of the country.

In 2016, SMEs contributed 36.6% to GDP from 36.3% in 2015, while the SME share to employment rose to 65.3% compared to 64.5% in 2015. Meanwhile, SME exports have steadily increased to 18.6%.

SME development in Malaysia is well-structured and coordinated due to the Government’s high commitment in providing a conducive ecosystem to promote SME growth and sustainability. Sound institutional framework, clear policy plan, and efficient delivery and facilitation of comprehensive and integrated programmes for SMEs have been geared in motion to develop SMEs into dynamic global players.

The development of SMEs is a top priority under the 11th Malaysia Plan as Malaysia moves towards becoming a high-income economy. Efforts are being intensified to expedite the implementation of the six High Impact Programmes (HIPs) and 26 other initiatives under the SME Masterplan which are critical in meeting the set goals and targets.

Ladies and gentlemen

Despite the prevailing challenges from the slower global economic growth and the economic reforms in our domestic economy, the Government is confident that SMEs will continue to be resilient and agile, rising to and above the challenges, and continue to achieve sustainable growth in the years to come.

Continuous proactive measures by the Government to cushion the impact of the economic slowdown, together with Malaysia’s steady domestic demand and stable employment market, are expected to help alleviate the downward pressures on SME growth. For 2017, SME GDP growth is projected to expand between 5.6% and 5.7%.

The recent Budget 2018 announced by our Prime Minister, Yang Amat Berhormat Dato’ Sri Najib Tun Abdul Razak, is a testament of the Government’s continuous commitment to promote and accelerate the development of SMEs. I must say that the Budget 2018 is an inclusive and holistic budget that focuses on building a resilient and competitive nation as we move towards a more challenging environment.

With a total of RM22.2 billion allocated for SME development programmes and initiatives to be implemented by various Ministries and Agencies, I am optimistic that SMEs will be able to face head-on and overcome whatever challenges coming their way.

Budget 2018 is very comprehensive and all encompassing, addressing the current requirements of SMEs. The Budget has taken an optimistic approach, in view of the national economic growth which is expected to be on an upbeat track.

As a whole, SMEs have been given substantial allocation to address the requirements across all sectors and to prepare them towards Industry 4.0.

It also addresses the specific multi-faceted requirements of SMEs, which include financing, export promotion, entrepreneurship, as well as sector-specific needs of SMEs in tourism, transportation, green technology, halal and the creative industry.

Targeted groups within the economy are also being included, such as women, microenterprise, youth and Bumiputera which clearly indicates that the Government is ensuring the development of SMEs cut across not only sectors but also segments among Malaysian citizens.

Ladies and gentlemen

A new world order is emerging, and this will rapidly change the business landscape with huge economic impact on a global scale. Key megatrends that are transforming businesses globally include Industrial Revolution 4.0, which is fuelled by digital technology. This technological revolution will lead to the growth of Financial Technology, Big Data Analytics and e-Commerce, as well as regional integrations and opening up of markets.

Moving forward in this new era, I would like to urge SMEs to be pragmatic, and to proactively adapt and seize the myriad of opportunities available to reap the benefits from this new business backdrop. SMEs must gear themselves up to take a quantum leap forward, further and beyond, into the international market arena, by seizing the various opportunities available offered by the Government, as well as the private sector.

Ladies and gentlemen

Tonight’s event is a celebration. Those being honoured here are doing inspirational work for achievements and sustainable development in their respective industries. The innovation and the determination of tonight’s award winners are inspirational for us all. They challenge each of us to reflect on how we can do more for our respective industries, and the country. May their commitment and resolve be our inspiration to act.

Before I conclude my speech, I would like to once again, congratulate all of the 100 MIYE 2017 winners. Your vision, leadership and fortitude, boldly encapsulated in your outstanding achievements, are a true testament of entrepreneurship.

It is my fervent hope that you will continue to do your best for greater success and to further contribute to Malaysia’s economic growth towards attaining Vision 2020. It is you, young entrepreneurs, who will make a significant difference in the economic landscape of the present times, as well as those of the future.

Please now enjoy this evening’s 100 Most Influential Young Entrepreneurs (100 MIYE) 2017 Gala Dinner. Thank you.

Was-salaamu ‘alaikum wa rahmatullahi wa barakaatuh.

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