MGBF PLAYS A STRATEGIC ROLE IN ECONOMIC DEVELOPMENT, POLICY ANALYSIS AND SUPPLY CHAIN-BASED INVESTMENT PROMOTIONS

KUALA LUMPUR, Malaysia, Aug. 30, 2023 /PRNewswire/ -- The Malaysia Global Business Forum (MGBF) hosted a high-level industry dialogue themed 'The Two-Wheeler Market – Mobility, ESG and the ASEAN Supply Chain' as part of the Kuala Lumpur Bike Show 2023 (KLBS'23) held at the World Trade Centre Kuala Lumpur (WTC KL).

During the moderated panel discussion, industry experts shared their insights on the strategic opportunity for Malaysia to be a greater player in the two-wheeler industry in the Association of Southeast Asian Nations (ASEAN) as well as business prospects for Malaysia especially in the context of the regional supply chain.

It was also identified that with technology trends capturing the media narratives, especially as electric vehicles and reduced emissions technology become more commonplace, the trade and investment opportunities are what business leaders need to understand.

The ASEAN two-wheeler market represents at least 25 per cent of the global market and growing exponentially. From urban planning to environmental, social and governance (ESG), the two-wheeler industry can contribute to this trend and ultimately to the nation's economy.

The National Automotive Policy 2020 which projects Malaysia's ambition outward to 2030 mentions motorcycles briefly. This bias towards cars in the policy may need further evaluation as it does not take into consideration the high growth market of the motorcycle market.

Nordin Abdullah, founding chairman of MGBF, said, "We recommend that the National Automotive Policy be more reflective of this opportunity especially because it will allow the SME manufacturers and distributors to play a more integrated role in the ASEAN two-wheeler supply chain. At the same time, with the ASEAN free trade agreements that are in place, the government has already done part of its work."

"Success lies in the nation's ability to be focused and create high value leverage points for investors that compete in a global marketplace. Malaysia must compete and win as an investment destination, and leveraging demands of the two-wheeler industry, this is one sector to pay special attention to," concluded Nordin.

"Another area we identified is the opportunity in education and safety because it is such a huge challenge. If Malaysia can solve this internally, it could be a leader in ASEAN in this critical issue. This can be an area for export of intellectual property. But any solution needs to be tech-based, private sector driven, public sector endorsed and people-friendly especially in terms of cost to consumers," said Rizal Kamaruzzaman, co-chairman of MGBF who delivered the welcoming address at the start of the MGBF Industry Dialogue.

Speakers include Dato' Indera Dr Ahmad Sabirin Arshad, FASc, president and group chief executive officer of SIRIM Berhad; Murugason R. Thangaratnam, executive director of Novem-ESG; and Rob Cayzer, executive director of Yasaar Global and board member and shareholder of Kitaran Tabah. The discussion was moderated by Gerard Ratnam, TV host and producer of Bernama TV. The session included special remarks from the inaugural Kuala Lumpur Bike Show 2023 organiser, Farouk Nurish, who is the director of Moventuum Sdn Bhd.

The Malaysia Global Business Forum (MGBF) empowers stakeholders at the intersection of international and Malaysian business. Through government relations, business intelligence, advocacy, media engagement, market research, networking, advisory and business matching, MGBF delivers results for individuals, corporations, trade and business associations, as well as national and state governments. For more information, visit www.malaysiaglobalbusinessforum.com.

SOURCE Malaysia Global Business Forum