Singapore and Malaysia will become key centres for Australian export opportunities in the coming decade as the Association of Southeast Asian Nations (ASEAN) free trade agreement with Australia creates opportunities for export and trade — and ICT is one of the sectors to watch.
That’s the findings from a recent report, Export Development Strategies to Malaysia and Singapore, commissioned by the Victorian government, which identifies food and beverage and the information communications technology as offering excellent opportunities for exporters.
“South-East Asia represents a wealth of opportunity for Victorian businesses as countries in this region open their doors to the world economy. The region is an ideal export market businesses due to its close proximity, large populations and expanding middle-class,” the Victorian Government Trade Commissioner for South East Asia, Tim Dillon said.
New trade opportunities will begin to emerge in these regions as both Singapore and Malaysia invest heavily in industry development initiatives and local business, according to Dillon.
“Singapore is one of the most successful free market economies in the world and is also a gateway to other Asian markets,” he said. “And Malaysia continues to be a growing export market, with the country undergoing significant economic reform.”
The Victorian Government plans to open an export office in Kuala Lumpur to help Victorian businesses as part of Export Connections, a program that provides assistance to Victorian businesses to help them realise their export potential. This includes access to skills and knowledge, networking opportunities, market entry assistance, trade missions, business matching, and a range of exporting seminars and events.
The report singles out ICT as an industry which offers strong export opportunities, since both countries have good communications and technology infrastructure and a labour force that is able to service the areas. Singapore, it says, is a global IT hub with one of the most developed ICT industries in the region while Malaysia is undergoing a strong ICT growth phase.
“In Malaysia, the ICT sector has been growing over the past 10 years and the Government has allocated RM 12.9 billion (about $4.87 billion) to help develop the sector under the Ninth Malaysia Plan. Opportunities in Singapore are also expected to grow due to government spending and local business demand,” Dillon said.
For more information on Export Connections, visit www.export.vic.gov.au
Export opportunities:
Malaysia
- Customised and specialised software solutions
- Horizontal business applications
- e-learning, e-health, e-security and e-government
- Creative multimedia, including animation and games
- Broadband and WiMAX Services
- Telecommunication Services
- Outsourcing
Singapore
- Customised and specialised software services
- Horizontal business applications
- e-learning, e-government and e-health
- Games
- Telecommunications services
- Outsourcing
- Mobile platform, applications, games and software
- Web applications and e-commerce