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2012-06-22

Malaysia ready to be the gateway for Indian entrepreneurs

Malaysia is ready to act as a gateway for Indian entrepreneurs who want to take advantage of the business opportunities in Southeast Asia, Prime Minister Najib Razak said on Thursday.

Malaysia is ready to act as a gateway for Indian entrepreneurs who want to take advantage of the business opportunities in Southeast Asia, Prime Minister Najib Razak said on Thursday.

"Both Asean and India are looking forward to accelerate the pace of development of their respective economies," Razak, said in the Asean-India SME Conference in Kuala Lumpur.

"The conference will focus on how entrepreneurs from both sides can collaborate to take advantage of the business opportunities that will be unfolding in this part of the world," the minister said in his keynote address.

There are now 77 Indian companies operating in Malaysia, including 70 Indian joint ventures.

Malaysia is the 27th largest foreign investor in India. India and Malaysia have also signed the Comprehensive Economic Cooperation Agreement.

Razak said that the challenge now was to find ways to support the growth of small and medium industries in the country and reward innovative companies.

"We have found that it is inspiring for businesses when we develop recognition programmes to support SMEs that do well," he added before presenting the SME Innovation Awards to six selected companies.

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