Government to facilitate companies expanding overseas

The government will work on a programme to help accelerate the overseas expansion of Malaysian entrepreneurs, according to Datuk Seri Saifuddin Nasution Ismail.

The Domestic Trade and Consumer Affairs Minister said the initiative would involve getting rid of existing bureaucratic red tape to make it easier and faster for Malaysian companies to expand their brands overseas.

“We will work on a programme to fast track the process for companies wanting to expand overseas so that they can take advantage of the vast opportunities available in foreign markets to grow,” Saifuddin said.

“These companies can inform the ministry which areas they need our assistance in, and we will facilitate them in expanding overseas,” he told reporters after a dialogue session on China-Asean Foods Market Opportunities here yesterday.

Saifuddin said Malaysian companies could leverage on the well-established government-to-government ties that the country has to break into the respective overseas markets.

On China’s market, he said the doors were open for more Malaysian companies to tap into the world’s second-largest economy, citing the recently established ties with China Cooperative Trade Enterprise.

He said the state-owned enterprise, which boasts a business size of 5.4 trillion yuan, has expressed readiness to open up the market for Malaysian products.

Source: The Star