Bumi SMEs need more info on AEC market, says MTEM

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KUALA LUMPUR, Feb 13 – Local entrepreneurs especially operators of Bumiputera small and medium enterprises (SMEs) need more detailed information on the Asean Eonomic Community (AEC) market to benefit from it, says the Malay Economic Action Council (MTEM).

“They are really looking forward for the opportunity to play a more meaningful role in the AEC, especially with Malaysia chosen as host for the AEC in 2015,” MTEM chief executive officer Nizam Mahshar said.

But as some local entrepreneurs have no foreign trading experience, practical international exposure for them would be greatly welcomed, he said in a statement here today.

“Without guidance, they could risk failure and this could derail efforts to promote local products in the ASEAN region,” he said, adding local corporate and government-linked companies could provide practical guidance for entrepeneurs wishing to venture into the AEC market.

The government should also create an agency, to be called the Federal Bumiputera Entrepreneurs Agency, to supervise, monitor and empower Bumiputera entrepreneurs, he said.

Nizam said such a role was once played by the now defunct Entrepreneur Development Ministry, and a similar entity should be created but with a more systematic implementation and goal effectiveness strategy.

“In the face of a more open market like the AEC, Bumiputera status is meaningless to a company as the yardstick comprises mainly competitiveness, capability and performance measures,” he said.

MTEM is now developing a database on credible Bumiputera entrepreneurs and companies for reference by potential clients, he added. (BERNAMA)