Some key points to consider regarding
doing business in Malaysia
General comments made by David Twine (to Australian audiences) during the ‘ASEAN Now’ AANZFTA briefing seminars across Australia, 2010
• The linkages between Australia and Malaysia are very deep and broad. We have had over 300,000 Malaysians study in Australia; we have over 100,000 Malaysian permanent residents in Australia, and over one million tourists in both directions. As a result, the Malaysian community is pre-disposed to all things (food, wine, services) Australian. It is a great starting off point for your business;
• Many Malaysian CEOs have a connection to Australia. They have studied in Australia or their children have studied in Australia. You have to use these networks and linkages;
• Malaysia has a vision. It wants to be a developed nation by 2020. This is more than many other countries aspire to. Despite the challenge, the Malaysian Government has a massive economic transformation program to re-vitalise the economy and both social and physical infrastructure. The New Economic Model and the 10th Malaysia Plan (2011-2015) set forward the tasks required to achieve this. They also place great emphasis on human capital development and physical infrastructure development and have allocated close to A$100 billion for these programs;
• There are a lot of Australian companies already doing great business in Malaysia. In fact, some 8,000 Australian companies trade with Malaysia. We also have over 250 companies with a presence in Malaysia, from the traditional powerhouses of BHP Billiton in oil/gas exploration; Rio Tinto Alcan in minerals; to Talent 2 in HR; iSoft in medical; Blackmores in vitamins and many many others. Leighton has even constructed the expressway connecting the capital city of KL to the administrative city of Putrajaya and Australian franchises and goods dot the retail scene. You can even study at Monash; Curtin or Swinburne Universities without leaving Malaysia! This makes it a lot easier to do business in Malaysia as compared to other destinations. And with Air Asia, it’s even easier and cheaper to get there!
• Malaysia is also a significant investor into Australia. Some A$5 billion has been invested into Australia in the last couple of years alone, from Petronas investing into coal-seam gas, to property development by TA Group (owners of the Westin in Melbourne amongst others), to the purchase of CSR sugar and much much more. There is a lot of capital in Malaysia and they are keen to partner and work with Australia. We are regularly approached by major companies and there are a lot of opportunities for you.
Australia 2010 David Twine
Connected to David Twine via LinkedIn