Malaysian high-growth companies can contribute to the world: Redzuan

CYBERJAYA: Many Malaysian companies can be elevated to the “high growth” status and can eventually contribute also to other economies, said Entrepreneur Development Minister Datuk Seri Mohd Redzuan Md Yusof (pix).

He said they could meet the World Bank’s definition of high-growth firms — having a sustainable growth of at least 20% over a five-year period.

“I’m sure there are already Malaysian companies that are at the forefront globally in terms of net worth and corporate worth and what they can do for the world, not just for Malaysia,” he told a press conference after launching the four-day Entrepreneurial Nation (E-Nation) Symposium here today.

He therefore urged Malaysian entrepreneurs to focus not only on the domestic economy but also to venture abroad to markets such as China and eastern Europe and provide their expertise there.

“I would like to convey to Malaysian entrepreneurs that it is not just about us. There are people who have showcased what they can do for the world. (Some markets) are trying to attract people to be involved in the space industry, for example, and we already have the soft skills in Malaysia,” Mohd Redzuan said.

He said his ministry and agencies would play the role of encouraging and empowering local entrepreneurs to embrace Industrial Revolution 4.0 (IR 4.0), especially in the area of automation, so that they could increase productivity and be competitive in the global market.

“The use of artificial intelligence will become more prominent in a few years’ time; hence the government will try its level best to upgrade our infrastructure to make sure entrepreneurs can confidently adopt IR 4.0 without fear of data interruptions and cybersecurity issues,” he added. — Bernama