KUALA LUMPUR: Malaysia announced on Tuesday that it projects private investment will continue to grow this year, and reach around 30 percent by the end of next year, Minister Nor Mohamed Yakcop said. He added that “sustaining higher growth in investment and consumption would be the main factors in consolidating the transition from externally driven to domestically driven growth.” He said domestic demand would drive growth in the Malaysian economy moving forward due to increased private sector investments. “In Malaysia, our growth has increasingly being driven by the stronger domestic demand. The growth in domestic demand has risen from 5.7 percent per year during 2006-09 to 8.6 percent during the 2010-2012 period,” he said. His comments come on the heels of a number of government initiatives aimed at boosting the local populations' access to establishing their own private business. Much of that effort has centered around women business leaders and enabling them to have access to capital in order to start their own companies. Malaysia believes that the future of the local economy can be developed and boosted by working with women entrepreneurs to grow their companies and start-ups in the country. One of those aspects, Kirkby International College (KIC) believes is to develop English language skills for women business leaders to develop their idea with an international feel. The college's President Bismillah Khatoon Abdul Kader said that her institution is collaborating with the Women Entrepreneurs Network Associations (WENA) in order to give office space, training facilities and take business English courses for its members. The goal, she said, was to enhance English language skills for women to have more opportunities in the business field. “Wena members are among the most talented and entrepreneurial group of women contributing to Malaysia's SMEs (small and medium enterprises). We need to help them to widen their business opportunities to reach wider markets. “They need practical support like space, soft loans and technical advice. “They also need to be able to talk and write about their products and services in a medium that can be understood internationally," she said in a statement. In October, the government launched a new export directory aimed at promoting women-owned businesses. The “Malaysia Women in Export Directory" hopes to develop new strategies for the female business owners to deliver their goods and services to international buyers and importers who are using Malaysia as a source. The new directory showcases 172 women-owned companies that have “succeeded in penetrating international markets, including 52 companies under the Women Exporters Development Program — a development program managed by Matrade that focuses on women entrepreneurs," said Matrade. “It is a new path that makes good business sense, to encourage women entrepreneurs to export their products," said Trade and Industry Deputy Minister Mukhriz Mahathir. It will also aim to help women “master the export game with all its trimmings such as logistics, shipping, branding, sales and marketing," he added. The directory will also provide opportunities for Matrade's officials to network with women-owned companies, women's associations, business councils and foreign embassies. For female business owners in the country, the move is having mixed reactions, but overall, it is being received with positiveness. “I think this will really help us understand and be able to have an equal footing in the business world after it has been dominated by men for so long," one business woman on the sidelines of the Matrade announcement told Bikyamasr.com. The majority of female-owned enterprises are focused in the services sector amounting to as much as 91.7 percent of their overall participation as small and medium enterprises, followed by manufacturing at 6.9 percent with the balance in construction, agriculture or mining, Mahathir added.
