MALAYSIA CHAMPIONS ASEAN YOUNG ENTREPRENEURSHIP AGENDA THROUGH THE 1st ASEAN YOUNG ENTREPRENEURS
CARNIVAL 2016

FRIDAY, JULY 29, 2016 KUALA LUMPUR: The opening of ASEAN Young Entrepreneurs Carnival 2016 (AYEC 2016) at Menara MATRADE today marks a historic moment for Malaysia in spearheading the initiative to drive the ASEAN young entrepreneurship agenda forward.

The inaugural event – a collaborative effort between Malaysia External Trade Development Corporation (MATRADE) and Malaysian Association of ASEAN Young Entrepreneurs (MAAYE) – is also the first public-private sector initiative for young entrepreneurs since the inclusion of the young in entrepreneurship under the ASEAN Economic pillar in the ASEAN Economic Community (AEC). The event is supported by Ministry of International Trade and Industry and ASEAN Young Entrepreneurs Council.

Officiated by Minister of International Trade and Industry YB Dato’ Sri Mustapa Mohamed, the AYEC 2016 is also the first congregation of young entrepreneurs for all 10 ASEAN member states. The programme is the only ASEAN-mandated event under the Economic pillar hosted outside of Laos (ASEAN’s Chair for 2016) and sees the gathering of young entrepreneurs from all over ASEAN under one roof for two days starting today until tomorrow.


During the opening ceremony, two exchange of Memorandum of Understandings (MoUs) are witnessed. The first MoU – Incubator Programme for ASEAN Export Champions (Program Inkubator Jaguh Eksport ASEAN Usahawan Muda) – is a collaboration between MATRADE and MAAYE in creating ASEAN export champions among young entrepreneurs from around the Malaysian states. The incubator programme aims to groom entrepreneurs and first-time state-level exporters into successful global traders. The initiative puts strong emphasis on developing entrepreneurs who are eCommerce-ready, utilising digital platforms as a vehicle to ease market access, creating a business ecosystem that is driven by innovation and technology as well as pushing for better understanding in branding, packaging, marketing and media relations – all of which will ultimately translate into export sales.

The second MoU, Gabungan Usahawan Parlimen Jeli untuk Program Jaguh Eksport ASEAN, involves MAAYE and Jeli-based entrepreneurs. The MoU is to commemorate the participation of entrepreneurs in Jeli, Kelantan as the pilot project for the Incubator Programme for ASEAN Export Champions.

With three main components namely a forum, an exhibition and award ceremony, AYEC 2016 is expected to host a total of 5,000 people from key industries such as e-commerce, ICT, New Technology, Tourism, retail, logistics and the ASEAN Priority Integration Sectors.

One of the key highlights of the AYEC 2016 is the forum which features more than 30 speakers among who include Minister of Youth and Sports Malaysia, YB Khairy Jamaluddin; Secretary General of Treasury, Ministry of Finance Malaysia, Tan Sri Dr. Irwan Serigar Abdullah; and Co-Chair of Asean Business Advisory Council Tan Sri Dr. Munir Majid, just to name a few.

The topics at the forum revolve around sustainable development, human capital development, intellectual property and consumer protection, responsible business practices and many more.

According to MATRADE’s chief executive officer Dato’ Dzulkifli Mahmud, AYEC 2016 is conducive to enhance our young entrepreneurs’ business network in exploring the ASEAN market. “With a market size of 625 million people, AYEC 2016 will be able to improve people-to-people connectivity and access to market and technology between entrepreneurs, towards a more connected and competitive single market. MATRADE as Malaysia’s export promotion agency believes that this initiative is effective in connecting local young entrepreneurs with the world,” Dato’ Dzulkifli says.

Founder of MAAYE, Mr Syed Nabil Aljeffri mentions, “ASEAN has a youthful population, with a growing consumer market and the economy is set to benefit from such demographic dividends in the short term. We believe that the event is timely as the young in entrepreneurship can drive innovation, creativity and digitalisation as key elements included in the new AEC 2025 Blueprint.”

With more than 70 per cent of the ASEAN population reported to be below 45 years of age, youth forms a big part of the total human capital. Already the third largest labour force in the world, ASEAN has the fastest growing literacy and IT penetration rate in the world. Currently, the region is already the seventh largest economy in the world and is set to be the fourth largest by 2050.