Wednesday December 16, 2009
Give importance to branding, Malaysian firms urged
KUALA LUMPUR: Local companies must urgently emphasise on branding themselves and their products well to meet international standards, said Deputy Minister in the Prime Minister’s Department Datuk Liew Vui Keong.
“This will make Malaysia more competitive in the global market and give us the quantum leap needed to become a developed nation,” he said when launching the BrandLaureate Awards 2009-2010 yesterday.
He urged both private and government-linked companies to invest in branding to move up the value chain for the country to become a high-income nation.
Malaysian private and government-linked companies should not fear steeper competition from a liberalised services sector, but should instead bank on innovation and adopt a positive mindset to change.
“Change is the constant and main keyword. Changes in technology, trends, consumers’ needs and emotions are factors that we need to consider when we work on our organisation’s growth strategy,” he said.
Liew said the Government liberalised 27 services sector in April to create a conducive business environment that attracted investments, technology transfer and higher-value employment.
“These efforts are expected to enhance the level of competitiveness, not only of the services sector, but also of the whole country,” he said.
The BrandLaureate Awards 2009-2010, organised by the Asia-Pacific Brands Foundation, will be held on March 26 to honour the best brands.
For more information, visit www.thebrandlaureate.com.
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