EU-MCCI CEO HAILS MALAYSIA’S STRENGTHS
Country is most cost-effective entry-point into Asean
FRANCIS DASS
KUALA LUMPUR bt@mediaprima.com.my favourably.
“Entrepreneurship in Southeast Asia is great because it is very dynamic in terms of starting a business, and closing a business is very easy too,” he said.
In Southeast Asia, he added, everything was moving at a very fast pace.
“With agencies like the Malaysian Global Innovation and Creativity Centre and Cradle, the type of support from the government for young Malaysians to start a business is fantastic .
“In Europe, it is difficult for young entrepreneurs to get started,” he said.
As the CEO of EU-MCCI, Benetello is tasked with organising trade missions, and represent the 28 European Union countries as well as engage in business facilitation programmes.
“We go to policymakers and the government to discuss issues that are of concern to the business community.
“EU-MCCI’s main role is advocacy as the EU is a big contributor to Malaysia’s foreign direct investment,” he said.
Malaysia, Benetello observed, was in a good position for foreign direct investment in Asean as the government was putting in a lot of resources to attract investments.
“Malaysia is investing in good talent and coordinating very well with Malaysia External Trade Development Corp offices and the Malaysian embassies around the world,” he pointed out.
He said Malaysia needed to move up to a higher level of manufacturing by embracing greater levels of automation in manufacturing.
“The country needs higher compliance to higher standards and more highly-qualified people to move into higher manufacturing,” he said.
On the Trans-Pacific Partnership not taking off, he said the void would be filled up by the Europeans.
He also touched on the restarting of EU-Asean free trade agreement talks.