Tan Sri Mohd Sidek Hassan

Tan Sri Abdul Rahman Mamat“Steps have also been taken to facilitate the free flow of investmentand services within Asean. Restrictions on equity and other barriersare progressively being removed in the sub-sectors of tourism,healthcare, construction, information and communications technologyand recreation facilities. As of now, over 65 services sub-sectors havebeen liberalised for intra-regional trade”Malaysia has benefited from this regional initiative. Over 25% of Malaysia’s tradeis within the region. Over the last decade, the country’s trade with Asean grewby an average 10% annually. In 2008, exports to Asean totalled RM171.2biland imports were RM126.4bil. Several Malaysian companies have participated inthis intra-Asean growth. A number of autoparts manufacturers are located inRayong, the automotive hub of Thailand, and in the textiles and garments sectorsin Cambodia and Vietnam. Some others are involved in operating airports, hotels,hospitals and recreation facilities in the region, and in the toll roads, ports, hotelsand industrial parks. In the larger scheme of things, however, the Malaysian sharein crossborder Asean businesses is still relatively small.The business potential in the region is enormous: a population of 587 million peopleand a combined gross domestic product of US$1.4 trillion. Companies from outsidethe region have found it beneficial to invest their money in the region. Malaysiancompanies should be no less enterprising and should investigate what’s availableat their doorstep even as they look elsewhere for investment opportunities.67