The 6th Asia Pacific International Brands Summit Malaysia

14th Oct 2010, 2pm, Palace of Golden Horses

Since we became an independent nation, and form the country, Malaysians of all backgrounds shared one core belief, that we should work together to strengthen our nation and our collective future. It is for this reason that the Government, under the Prime Minister Dato Sri Najib’s leadership, initiated 3 national policies designed to steer us back to the path of prosperity. As you might have known, these are the New Economic Model, the Tenth Malaysia Plan and the Government Transformation Program.

Malaysia would not be what it is today without the industry, expertise and dedication of the Malaysian community, like all of you who participating here today. Likewise, there will be a bleak future for Malaysia without your support for our policies. We would clearly fall short of reaching the goals of Vision 2020 or to become the developed nation that our fathers and grandfathers strove so hard to achieve, if we do not have this vital support.

Indeed, there are structural issues in our economy that must be addressed. Some of these have become entrenched for so long that our ability to compete internationally is now at risk. There are also some shortcomings in our internal delivery systems. Much needed assistance is not reaching lower-income groups and the marginalised in our society who need help. At the same time, the constant complaint about the people not interpreting government’s policies and decisions in the right way is often heard.

Ladies and Gentlemen,
Underpinning this notion of national unity and identity is the economic ‘pie’ which needs to continue growing but it must be shared in a way that is fair and just. While there must be a sense of equity or more accurately, fairness in how Malaysia divides its wealth, this must not be done in a way that inhibits the success of others or benefits one community over another. Therefore, the NEM and the 10th Malaysia Plan are blueprints by the Government for the people.

Ladies and gentlemen,
The Government alone cannot make all the necessary changes. The private sector plays a vital role in driving the innovation; creativity and investment that are needed to boost Malaysia’s global competitiveness and support our goal to become a high-income nation. The private sector transformation is urgently needed because the economy cannot expand without their committed and positive participation.

Businesses should not only look for short-term profit but must be prepared for a longer haul. For this, the private sector must dare to take risk and invest in new industries, new products and services. R&D expenditure and technology acquisition should be regarded as investment for long-term growth and profits. The private sector should also value human capital by paying the right level of wages and allocate resources to the talent.

Ladies and gentlemen,
Being entrepreneurial goes deeper than just having a job. Business owners need deep commitment and seriousness to arrive at their targets.

Most of them are also risk takers, but they assess risks well before plunging in. They adapt to changes and improve their skills through coaching, mentorship, books and experiences.
An entrepreneur should build his or her business around satisfying a need. If there isn’t a need to satisfy, then there is no need of being in business. One must able to recognize and explore opportunities around him. He also needs to have management skills to enhance the process of integrating and coordinating resources. An entrepreneur also requires having knowledge of marketing. It is important to understand the different behaviors of the consumers towards his product. Furthermore, an entrepreneur should be good at planning as well as implementing the plans through effective delegation.

Ladies and gentlemen,
By participating CEO Forum/seminar today, you may learn from others and further on build your networking and contact.
Lastly, I would like to take this opportunity to congratulate those awarded as Asia pacific super excellent brand and Malaysia Power Brand. Your great effort and achievement has been recognized.

Thank you.