Malaysia: The Economic Times Asian Business Leaders Conclave, which brought together the biggest names in the Asian business world, concluded after two days of extensive discussions on creating a more integrated Asia for better business prospects.
Speaking at the event, the High Commissioner of India to Malaysia, T.S. Tirumurti said, “This is a wonderful initiative and I am delighted that The Economic Times have chosen Malaysia to launch this inaugural event. Malaysia has been a hub of much of the activities in ASEAN and East Asia, and both Prime Ministers hold each other in very high regard and are looking forward to working closely together. Having both Prime Ministers inaugurate the event – one on stage and another via video conference – is a strong endorsement by itself.”
“This event marks an important beginning as it has been able to attract the most prominent business personalities from Malaysia, India, and other parts of Asia. The strength of India lies in its public sector and it is thriving. This event gives Malaysia and other Asian businessmen the chance to understand India and the changes that are taking place, resulting in greater synergies for our two countries,” he further added.
The summit was also addressed by Y.B. Dato’ Sri Mustapa Bin Mohamed, Minister of International Trade and Industry, Malaysia, who said, “Personal ties are important and should not be underestimated. There is a lot of activity that comes from a bilateral and federal level between Malaysia and India and we are pleased to be strengthening personal ties between the two nations and this event is certainly a milestone.”
All eyes on Ascendant Asia
One of the most important economic phenomena that our generation has been witnessing is the emergence of Asia as an economic force on the global arena. Over the past decade, Asia has been home to some of the world’s fastest-growing economies and can now boast of major contributions to global growth. This clearly establishes the region as a predominant player of the world economy, with China flexing its economic might and other Asian countries such as India, UAE, Singapore and Saudi Arabia also demonstrating strong growth. As such, the region’s ascendancy in the global economy is likely to continue with regional businesses making their impact felt worldwide.
With regional co-operation getting further established, The Economic Times brought together iconic and upcoming leaders of Asia Inc. under one roof at the inaugural edition of The Economic Times Asian Business Leaders Conclave, which saw the heads of the most successful corporations in the region deliberate the course businesses need to take as they seek to make Asia the business hub of the world.
The Economic Times Asian Business Leaders Conclave addressed topics such as:
• Challenges in making Asian companies go global and ways around it
• The future of Asia’s finance: How can it meet the challenges of demographic change and infrastructure needs?
• ASEAN – Firmly establishing itself as the essential regional organization in Asia
• Healthcare & Pharmaceutical industries – Opportunities and Challenges and the way forward through mutual cooperation in R&D
• Infrastructure – The backbone for inclusive growth and opportunities for Inter-Asian collaboration,which were presided over by business leaders from Apollo Group of Hospitals, Dell EMC, GlaxoSmithKline, NesmaHoldings and Saudi Arabia among others.
The conclave was inaugurated on December 14th, 2016 by Hon. Prime Minister of Malaysia, YAB Dato’ Mohd. Najib Bin Tun Haji Abdul Razak and was joined by Hon. Prime Minister of India, Narendra Modi through video conferencing.
This is a time for integration: Narendra Modi
The leaders of ASEAN countries have led efforts for better integration among the countries of the region.This initiative to bring the business leaders of Asia together is therefore very timely. I have said on many occasions that the 21st century is the century of Asia. Asia where there are hands to work, homes to consume and heads have the humility to learn. Despite unfavourable and uncertain global economic environment, the growth prospects of the Asian region have been a ray of hope.
India is currently witnessing an economic transformation. It is not only one of the fastest growing large economies in the world. It is also marked by initiatives centered on ease of doing business, making governance transparent and efficient and reducing regulatory overburden. The outcomes of our efforts are visible from India’s global rankings on various indicators.
This is a time for integration, and integration cannot happen without openness. India has always been open at the heart. Now, at the level of economy also, we are among the most open and integrated economies. We welcome those who are not there in India so far. I personally assure you that I shall be there when you need me. India is not only a good destination; it is always a good decision to be in India.
The 21st century is set to be the Asian Century: YAB Dato’ Sri Mohd. Najib Bin Tun Haji Abdul Razak
This landmark Conclave brought together many of Asia’s foremost business leaders to discuss ways to ensure that the region remains the most thriving centre for trade in the world.
I am glad that it is taking place here. For by choosing Malaysia as the venue, this Conference is recognising that from manufacturing, to distribution, to technical expertise in the services sector, this country offers opportunities and capabilities across the value chain. Whether investors want Malaysia to be their target market, or to set up here to take advantage of our being a regional gateway, companies and individuals will find so many opportunities upon their arrival here.
It has often been said that the 21st century is set to be the Asian Century. That is as it should be. The centre of gravity of power, population and prosperity has long been shifting eastwards, and it is right that we should take responsibility for, and control of, our own destinies. We need to take the next steps to forge stronger inter-Asian ties, to capitalise on what we have in common, to learn from each other, to share best practices and seek new ways of collaborating to the benefit of all.
Deepak Lamba, President, Times Strategic Solutions Ltd said, “One of the most important economic phenomena that our generation has witnessed has been the emergence of Asia from the shadows of the West. Globalization has opened new doors for traditionally orthodox nations and brought them to the forefront of providing some sort of stability to an otherwise highly volatile trade and business environment. We are proud that The Economic Times Asian Business Leaders Conclave has been able to create a differentiated platform for leaders to come together and discuss the most pertinent issues that Asia faces today.”
