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InvestKL facilitates dialogue with Minister of International Trade and Industry at the World Economic Forum 2014 to initiate strategic supply chain management
DAVOS, Switzerland, Jan. 24, 2014 /PRNewswire/ -- "Asia is changing. Just to be in Asia is not enough anymore. In order to win in Asia you have to use Asia to win." This is the conclusion Steven Tseng, PwC's Global Leader for Value Chain Transformation, drew from the exclusive breakfast dialogue organized by InvestKL, Malaysia's capital city-investment agency, at the World Economic Forum in Davos, Switzerland yesterday. Titled as - 'Global supply chain transformation – strategies for success', the program covered latest trends impacting global companies' operations strategies especially in driving their asset footprint decisions – both for "hard" and "soft" assets.
Many companies have understood the important role of Asia already. The revenue of Fortune 500 companies coming from Asia has risen from less than 10% in the period 2003-2006 to almost 30% in 2012. "Globalization is nothing static," said Steven Tseng. "In order to remain a leader in your industry you not only need to constantly align your management but also your operational structure and the supply chain."
Malaysia is aware of the challenges global businesses face. "Our role is to facilitate businesses," said YB Dato' Sri Mustapa Mohamed, Malaysia's Minister of International Trade and Industry. "Many Corporate Titans have already chosen Malaysia and especially Greater Kuala Lumpur as a hub and we are focused on attracting more." Minister Mustapa sees the government's primary role in helping companies in reducing their cost of business and build more efficient supply chains – by reducing energy costs through more energy efficiency, remove trade obstacles and – last, but not least – provide highly qualified people. "We have to move up the value chain. Our aim is to create more high-skilled quality jobs in Malaysia," the minister said.
With this Malaysia is preparing for more regionalization in supply chains, already a global trend. "We see many companies today giving more control to the regions instead of using a purely global approach to their supply chains," said Joseph Roussel, PwC Partner and co-author of the book Strategic Supply Chain Management. In order to win in their industries companies would need to constantly innovate around their supply chains. "Companies today move their R&D facilities into the region, because they are better able to understand the market and innovate for consumer needs," says Joseph Roussel.
Speaking against the backdrop of World Economic Forum 2014 in Davos, Mr. Zainal Amanshah, CEO of InvestKL, emphasized Kuala Lumpur's strategic role in reaching out to the markets of Southeast Asia and beyond. Greater Kuala Lumpur today not only offers boundless opportunities for international trade and commerce to springboard their business to the next level, but also provides seamless supply chain management due to its strategic location, federal commitment, business sophistication and Innovation."
"Founded as a trading hub, Greater Kuala Lumpur continues to be a preferred commercial location within Malaysia and Southeast Asia, strategically located with a solid talent base and offering world-class infrastructure and operating environment for MNCs' regional hubs while driving the growth of a nation."
"Traders and entrepreneurs have long recognized KL's strategic role and heritage as a trading nation for centuries. That story is still true today. Looking beyond the world-class transport and manufacturing infrastructure and skilled talents, KL offers global MNCs an unmatched opportunity to access the expanding 620-million consumer market of Southeast Asia by establishing operations in the region's most dynamic capital. Ultimately, KL's ability to engage and catalyse the long-term future of the region offers global companies an unrivalled avenue to weave their own energy, passion and vision for international trade in Asia."
InvestKL is a Government entity under the purview of the Ministry of International Trade and Industry (MITI), Ministry of Federal Territories and PEMANDU, the Performance Management and Delivery Unit under the Prime Minister's Department. InvestKL works with other Government Ministries, entities and agencies to formulate attractive fiscal packages, and help corporations identify business opportunities while strengthening their competitiveness regionally and globally. Overseen by the Prime Minister's Office, reporting to three ministers and headed by CEO Zainal Amanshah, InvestKL focuses on attracting large global multinationals such as Fortune 500 and Forbes 2000 companies to set up their regional business, innovation and talent hubs in Greater Kuala Lumpur and strategically grow their business in Asia.
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