NEC Calls for More Public-Private Partnership to Boosts Exports
NEC CALLS FOR MORE PUBLIC-PRIVATE PARTNERSHIPS TO BOOST EXPORTS
MONDAY, JUNE 13, 2016, PUTRAJAYA: The National Export Council (NEC) is urging for more public-private partnerships to be initiated as part of the nation’s strategies to enhance Malaysia’s export performance. The NEC which convened for its second meeting for the year today was chaired by Prime Minister YAB Dato' Sri Mohd Najib bin Tun Haji Abdul Razak.
The meeting announced public-private partnership initiatives that are currently underway to enhance the exports of products and services. One of the initiatives is a global Promotion Programme to brand Malaysia through a public-private partnership. This Programme aims to optimise the benefits of strategic collaboration between Government Ministries, agencies, the private sector, Government-Linked Companies (GLCS) and the Malaysian diaspora.
The Programme will see the promotion of Malaysia’s capabilities in trade, investment, tourism, education and healthcare, among others, to a global audience. Aimed at strengthening ‘Brand Malaysia’, this Programme for 2016 will take place in London, Shanghai and Sydney. The events are slated for September, November and December respectively. Among the activities lined up at the events are Malaysia Business Forum, Malaysia Export Day, Malaysia Fest, in-store promotions, Malaysia Flavours, Malaysia Art Showcase and Malaysia Online Sales.
Another public-private initiative discussed at the meeting was in relation to the ‘Strategies to Improve Exports of Higher Education’. The meeting had a discussion on ways to increase the collaboration between the public and private sector in areas such as branding and marketing of Malaysian education globally. These include joint promotions at leading education fairs in selected markets overseas and introduction of incentives to local Institutions of Higher Learning to enhance infrastructure and establishment of International Research Laboratories in Malaysia.
The meeting also discussed the establishment of Malaysian Incorporated (Malaysian Inc), under the National Professional Services Export Council (NAPSEC). Malaysian Inc is a membership-based organisation, comprising multi-disciplinary services’ professionals. Its main role is to identify and evaluate projects overseas as well as to coordinate the participation in the bidding process, through the formation of a Consortia of Malaysian companies.
The NEC was set up in December 2014 to steer export growth. It comprises a total of 19 members, 12 from the public sector and 7 from the private sector. The inception of NEC is a good example of the Government’s pro-business policy which encourages the public and private sectors working together to push the country’s economy to greater heights.
Based on the latest trade performance report released earlier this month, in the first four months of 2016, Malaysia’s exports expanded to RM246.51 billion, an increase of 1.2% while imports decreased by 0.9% to RM213.51 billion. Total trade was valued at RM460.02 billion compared with RM459.04 billion recorded during the same period of last year. During the period, trade surplus registered a double digit growth of 17% to reach a value of RM32.99 billion.
Malaysia’s exports in April 2016 alone rose by 1.6% to RM61.35 billion compared with April 2015. This positive growth was supported by expansion in exports to ASEAN, the United States of America and Taiwan. Imports were lower by 2.3% to RM52.29 billion while total trade remained at RM113.64 billion compared with RM113.9 billion in April 2015.
The nation's trade surplus in April 2016 increased by 31.9% to record RM9.06 billion, compared to RM6.87 billion registered in April 2015. This achievement marks the 222nd consecutive month of trade surplus for Malaysia since November 1997.
