Latest news with #NusantaraYouthForum2025
The Star
a day ago
- Business
- The Star
Miti supports young entrepreneus through DEFA, Asean SME Academy, says Tengku Zafrul
KUALA LUMPUR: The Investment, Trade and Industry Minister is actively creating more space for young entrepreneurs to thrive, in line with Malaysia's role as Asean chair, says its Minister Tengku Datuk Seri Zafrul Abdul Aziz. infographic He said that through initiatives such as the Asean SME Academy and the Digital Economy Framework Agreement (DEFA), the ministry is breaking down barriers so that these entrepreneurs can start, scale, and connect their ventures beyond borders. "DEFA, the world's first regional digital economy treaty, is projected to grow Asean's digital economy to over US$2 trillion by 2030 and generate millions of jobs. These are not just statistics; they are doorways to your future," he said in his closing keynote address at the Nusantara Youth Forum 2025 held in Putrajaya Saturday (June 28). Tengku Zafrul said that as Malaysia opens doors for young entrepreneurs and innovators, it is important to mention how Malaysia's own long-term strategies align with these regional ambitions. "Through the New Industrial Master Plan 2030 (NIMP 2030), Malaysia is transforming our industrial landscape by focusing on high value-added sectors, advanced manufacturing, and future-oriented skills. "NIMP's core mission is to create quality jobs and ensure our industries - especially in electrical and electronics (and) green tech - remain globally competitive, resilient, and sustainable," he said. According to the minister, national frameworks such as NIMP are not just about Malaysia's progress. "They also complement Asean initiatives like DEFA and the Asean SME Academy, creating a seamless ecosystem that supports youth, from upskilling and financing to market access, so you can truly take your ideas from the region to the world," he said. Tengku Zafrul also gave recognition to arts and culture, saying that too often, the creative sector is wrongly treated as secondary to the "main economy". "The truth is, culture and creativity are economic engines, identity builders and bridges between nations," he said, adding that Asean's creative industries, from music to film, are gaining global attention. The Minister said he cannot overstate the importance of entrepreneurship in driving both economic progress and social transformation. "Today, the most exciting businesses in Malaysia, and indeed throughout Asean, are being founded, led, and grown by youths. "Whether you are developing tech solutions, running sustainable farms, designing innovative products, or launching platforms for social impact, you show the world what is possible when ambition is united with purpose," he added. - Bernama
The Sun
a day ago
- Business
- The Sun
MITI boosts young entrepreneurs via DEFA and ASEAN SME Academy
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) is expanding opportunities for young entrepreneurs, leveraging Malaysia's ASEAN chairmanship to foster cross-border business growth. Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted key initiatives like the ASEAN SME Academy and the Digital Economy Framework Agreement (DEFA) as pivotal in breaking barriers for startups. Speaking at the Nusantara Youth Forum 2025 in Putrajaya, Tengku Zafrul emphasised DEFA's potential to elevate ASEAN's digital economy to over US$2 trillion by 2030. 'These are not just statistics; they are doorways to your future,' he said, underlining the treaty's role in job creation and regional connectivity. Malaysia's New Industrial Master Plan 2030 (NIMP 2030) further aligns with these goals, prioritising high-value sectors like advanced manufacturing and green technology. 'NIMP's mission is to ensure our industries remain competitive and sustainable,' he added, noting its synergy with ASEAN-wide programmes for youth upskilling and market access. Tengku Zafrul also championed the creative economy, dismissing its marginalisation as outdated. 'Culture and creativity are economic engines,' he said, citing ASEAN's rising global influence in music and film. He lauded young entrepreneurs driving innovation across tech, agriculture, and social impact sectors, stating, 'You show the world what's possible when ambition meets purpose.'
