Opening Ceremony of The ASEAN Young Enterpreneurs Carnival (AYEC)
- Category: Speeches 2016
SPEECH FOR YB DATO' SRI MUSTAPA MOHAMED
MINISTER OF INTERNATIONAL TRADE AND INDUSTRY
AT THE
OPENING CEREMONY OF THE ASEAN
YOUNG ENTREPRENEURS CARNIVAL (AYEC)
29 July 2016 (Friday)
11.40 a.m. – 11.50 a.m.
MATRADE HALL, MATRADE KUALA LUMPUR
(i) Khun Oudet Souvannavong, Chairman of ASEAN Business Advisory Council,
(ii) YBhg. Dato' Dzulkifli Mahmud, CEO of MATRADE,
(iii) Syed Nabil Aljeffri, Co-Chair of the ASEAN Young Entrepreneurs Council,
(iiii) ASEAN Business Advisory Council Members, ASEAN Young Entrepreneurs Council Members, Notable speakers and moderators and esteemed ASEAN delegates.
(v) Distinguished guests, Ladies and Gentlemen
1. I am delighted to be here this morning to officially declare open the first ASEAN Young Entrepreneurs Carnival (AYEC). I would like to express my sincere appreciation to all those who have made the event possible, especially Syed Nabil and the AYEC Council Members. I also acknowledge the role of MITI and its agencies, in particular MATRADE, in the organisation of this Carnival.
Ladies and Gentlemen
2. There are those who say that youth is wasted on the young. But I think the presence of all of you today, engaging in discussions about very serious issues, gives the lie to that aphorism. For, to state the obvious, ASEAN's future lies in your hands. Sixty percent of ASEAN's 620-million-strong population is below 40, giving the region a vibrancy and dynamism lacking in the "greying" populations of much of the developed world.
3. The Governments of ASEAN Member States are fully cognisant that our youth, particularly entrepreneurs, will be the ones shaping ASEAN's destiny in the coming decades. The agendas of youth and entrepreneurship comprise a sizeable portion of the vision laid out in the ASEAN Economic Community (AEC), which came into effect in January.
4. To give you an example of our commitment, during Malaysia's Chairmanship of ASEAN last year, we organised two important events to promote youth in ASEAN. Malaysia hosted the 1ASEAN Entrepreneurship Summit, in which where 15,000 young entrepreneurs from all over ASEAN were given the opportunity to share experiences and ideas. Another was the ASEAN Young Leaders Summit, which was attended by more than 300 youths from ASEAN and Dialogue Partner countries.
5. Malaysia also launched the "MyASEAN Internship: Beyond 2015" programme last year. This programme is a collaboration between MITI and Talent Corp. to engage with top ASEAN scholars and increase their awareness of ASEAN and the AEC. A total of 21 corporations, including Malaysian companies and global multinationals, participated in this programme by providing internships to ASEAN nationals from Malaysia, Indonesia, Viet Nam and Myanmar. The myASEAN Internship programme is back this year with a larger group of 23 employers, with up to 100 internship placements. MITI is also on board as the first Government employer and currently has 7 interns attached at various MITI offices throughout ASEAN.
Ladies and Gentlemen
6. The formal establishment of the AEC is the culmination of decades of market-liberalising and tariff-reduction measures undertaken by ASEAN. These initiatives have helped ASEAN's economy grow at an average of 5.1 per cent from 2007 to 2015. The forecast is that ASEAN will grow at around 5.5% per year over the next five years. ASEAN's growth trajectory stands in stark contrast to the struggling economies in much of the rest ofbthe world.
7. The AEC, which seeks to create a single market and production base in the region, has also made ASEAN one of the most attractive locations for investment. Companies from many parts of the world have either located, or are in the midst of locating, their production operations in the region. Just as important, investors are helping to create more high-value, high-knowledge jobs for our young workforce to help our economy move up the value chain.
8. The AEC, which will help deepen the region's economic integration, presents an unprecedented opportunity for young entrepreneurs. But in order to benefit fully, it is important that our youth and aspiring entrepreneurs familiarise themselves with the developments in the region. Take some time to study in detail the AEC Blueprint 2015, the AEC Blueprint 2025, the Regional Comprehensive Economic Partnership (RCEP), and the free trade agreements ASEAN has signed with several countries. Studying these documents may not be as much fun as engaging with FaceBook, but the time spent will likely prove to be immeasurably more profitable!
9. That's not to in any way belittle, of course, the role of modern technology. The rapid pace of technological advances, coupled with the ease of access to information, represents a tremendous opportunity for young people to create meaningful change in ASEAN.
10. The ASEAN Community must be a connected community, especially given the challenges we will face in the new era that some have dubbed the "Fourth Industrial Revolution." Disruptive technologies such as artificial intelligence, machine learning, 3D printing and hyper-connectivity will transform ASEAN and its community. We must adapt, we must be nimble and we must embrace change if ASEAN is to realise its economic potential and ensure prosperity for all its people, rather than just a chosen few.
Ladies and Gentlemen
11. In closing, I once again congratulate the Asean Young Entrepreneurs on this pioneering initiative, and wish all of you a successfully and fruitful programme. Many have taken the trouble to come from all over Asean for this event. I hope the relationships formed here will help you and ASEAN to prosper together in the years to come.
12. There are many success stories of startups coming out of Malaysia, and I believe some of them are here today, for example Grab, KFit, EasyParcel, Supahands, PitchIn and many more.
13. Some of the highlights at this event include an MOU between Malaysia's Export Promotion Agency, MATRADE and MAAYE to develop an ASEAN Champion Incubator Programme, representation from all 10 Asean Young Entrepreneurs Associations for their 1st AGM, the Asean-BAC Council Meeting, the Pitch Arena with major venture capitals and business angels in attendance such as 500startups and Cradle, 30 slots taken up at the Podium for entrepreneurs to share their journey, key topics such as sustainable development and alternative access to finance as well as 300 booths.
