Domestically, the level of LED utilization is relatively low, as the push for a more energy efficient economy coupled with concerns for the environment, this will change. Many end users and intermediaries have yet to fully aware of the range of innovative and quality products that are produced here in Malaysia. What could a “Buy Malaysia First Policy” mean for local M&E contractors in the local market? How could such a policy be an advantage as many companies look to export goods and services?
As more Malaysian construction, architectural, electrical contractors export their services there is a need to explore an “Allied Export Partnerships” that will allow Malaysian companies to enjoy cost savings and the ability to manage quality with in Malaysia pre-export. This can be done if companies along the value chain start talking to each other.
SME Corp has been tasked with the role of taking the Malaysian LED Consortium a local and global force, in the key identified market of Malaysian Companies with international business requires a clear strategy to be developed and a framework of collaboration established which will allow Malaysian companies to compete together.
Malaysia’s LED Consortium: Currently, a total of 7 LED manufactures based in Malaysia have been identified by the government to be the cutting edge of the industry, especially in the face of strong competition from China and European manufactures. The government over the next few years will be assisting these companies in areas of capacity, quality assurance, standards compliance, branding, market access, and increased levels of home grown expertise which will create an advantage for them and enable them to compete both locally and globally.
Moving forward there are many questions that need to be answered especially as they will affect the strategic business environment in Malaysia. How will recent changes in Malaysian Government Policy, what are the latest global trends and how will you stay ahead of the latest developments? What opportunities and cost savings does increased capacity in Malaysian LED Manufacturing mean for your business?
A “Buy Malaysia First Policy” will allow companies to leverage off each other’s expertise and network while avoiding the risks of international 3rd party suppliers. To achieve this the industry players need to increase linkages.
Other advantages of a “Buy Malaysia First Policy” will be Malaysian M&E main contractors will be able to save time and money because it’s easier to deal with fellow Malaysian companies, even for simple reasons like, language, culture and purchasing and payment arrangements. Much out weighing what initially was seen as a cheaper imported alternative.
A “Buy Malaysia First Policy” will not only have a positive impact on the balance of trade, but empower both M&E contractors and LED Manufacturers.
About the Author
Nordin Abdullah is an Australian entrepreneur with over two decades business experience in Asia, the Organising Chairman of the Malaysia Global Business Forum and the Managing Director of Glenreagh Sdn. Bhd. a boutique consultancy firm based in Kuala Lumpur, to arrange a time to discuss how the team at Glenreagh can assist your contact [email protected] or [email protected]