Huge contribution of trademark-intensive businesses to economy
KUALA LUMPUR: Trademark-intensive businesses in Malaysia have generated 30 per cent direct and 60 per cent indirect benefits to the economy, said the International Trademark Association (Inta).
Inta chief representative of Asia-Pacific Seth Hays cited the latest study conducted by Frontier Economics from 2012 to 2015, highlighting trademark-intensive activities, which contributed to technological innovation and international business growth.
When asked on the 30 per cent direct and 60 per cent indirect contributions to Malaysia’s economy, Hays explained when trademark-intensive activities were extensively promoted within the business community, government and consuming public, it resulted in immense cross-sectoral economic growth.
“Trademark-intensive industries in Malaysia comprised 55 per cent of the country’s share of exports, including manufacturing of computers, electronics and related equipment, which accounted for about 19 per cent of total manufacturing valueadd,” he said.
Hays was speaking at a media briefing, here, yesterday, after presenting a report on “The Economic Contributions of Trademark-intensive Industries in Indonesia, Malaysia, the Philippines, Singapore and Thailand”.
Also present were Shook Lin & Bok deputy managing partner Michael Soo, MyIPO deputy director general Zulkarnain Muhammad and MyIPO assistant director general Azahar Abdul Razab. “In terms of employment, output and value-added workers’ share of workforce represented 24 per cent of total employment,” said Hays .
Soo concurred and said the trademark registration, brand development and enforcement of intellectual property protection would continue its significance as Malaysia embraced a knowledge-based digital economy.
Soo highlighted homegrown brands trademarks that were growing in brand value globally included Petronas, Maybank, CIMB, Malaysia Airlines, AirAsia, Sime Darby, Shangri-La, Genting Resorts and Maxis.
Emerging brands and trademarks growing regionally included Proton, Perodua, Mamee snacks and Vochelle chocolates.