Malaysia Eyes 200 Internationally-Recognised Brands During 10MP

11 June 2010 , By Bernama

Malaysia aims to generate 200 internationally-recognised Malaysian brands by 2015 during the Tenth Malaysia Plan.

"The government will provide financial assistance to firms to develop their brands in the international market such as developing brand strategy, training in brand development, conducting brand market research and participating in international events," says the Economic Planning Unit (EPU) in the Prime Minister's Department in the 10th Malaysia Plan (2011 to 2015) report released today.

Prime Minister Datuk Seri Najib Tun Razak tabled the Tenth Malaysia Plan in the Dewan Rakyat today.

The EPU says financial assistance will also be given to conduct feasibility studies and secure tenders for international projects as well as for export-promotion activities.

"The Malaysia Institute of Exports will be established to provide training for exporters and provide information on target export markets. Additional support will be provided to small-and-medium enterprises," it says.

It says financial assistance, such as the market development grant, will target to generate 4,000 new exporters during the Plan period.

The EPU says international trade is a signficant part of the economy.

"Gross exports are expected to nearly double to RM2.19 trillion in 2015 from RM1.16 trillion in 2009," it says.

During the Plan period, Malaysia will target free trade arrangements (FTAs)with the European Union, Transpacific Strategic Partnership, Asean 3 and several emerging economies, it says.

"An active programme for reducing transaction costs, such as Customs procedures and logistics, will be undertaken to facilitate trade and unlock the potential of FTAs, it says.

It says the country will make appropriate adjustments to increase its attractiveness to investors.

"Among the initiatives that will be considered are further easing regulatory burden, providing industry-specific incentives and providing reduced corporate and personal tax rates to selected industries, such as the 15 per cent income tax rate currently in effect for qualified knowledge workers residing and working in Iskandar Malaysia, Johor," it says.