Participants are all ears as industry leaders share their real-life experiences in expanding operations abroad.
INNOVATION and integration may sound like buzzwords in the corporate world but when put into practice, they are key for a company to develop competitiveness on an international stage.
Things like adding value to your goods and services, as well as appealing to the locals of any country the company is trying to expand into, will grant a competitive advantage, say industry leaders.
Drawing from real-life experiences, several industry leaders share how some companies, including their own, have managed to succeed in expanding their operations abroad.
Hong Xianjing, vice-president of the Fujian Women Entrepreneurs Commerce Chambers, says her company, Ke Jie Crane, decided to adopt the approach of adding value to their product as they believe they have already reached the top-level of technology they can offer to their customers.
“When we understand the areas of difficulties our customers face, we thought maybe we can let our customers connect the entire material control system, so we developed an automated weighing management system.
“Such a development process actually took us about three to five years as well as a lot of money and experience, but it also kind of left us with no way back because tradition and modernity are connected and it is a necessary process for a business to be reborn,” she said at the 11th World Fujian Conference.
At the same time, Hong adds, they are already preparing for the next round of innovation in technology in their industry so they can adapt when it arrives.
The conference was held recently at the Kuala Lumpur Convention Centre with about 10,000 people in attendance throughout the three-day event.
The conference drew about 10,000 people over three days. — Photos: FAIHAN GHANI/The Star
Datuk Low Kok Chuan of the Malaysian Fujian Chamber of Commerce and Industry gives the example of Huawei and Geely Automobile as success stories in developing a competitive edge on a global stage.
Huawei, he says, hired a large number of local employees when they entered the Eastern Europe, Africa, and South-East Asian market to build a local supply chain.
By adopting this approach, Huawei cultivated its popularity among the local population, which made it easier for them to penetrate these markets, he adds.
“As a leading global information company, the most important thing for Huawei is to build a localised enterprise, bring leading technologies into the local market, integrate into the local transition and survive together,” Low says.
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Conference chairman Tan Sri Dr Lim Hock San welcoming participants at the opening ceremony of the 11th World Fujian Conference at the Kuala Lumpur Convention Centre.
Geely, meanwhile, pre-empted its entry into the South-East Asian market by acquiring a 49.9% stake in Proton, which made its transition into the local market smoother.
“This is the most successful part of Geely’s international transformation.
“After Geely won Proton, it also continued to promote research and development work in China and then brought it to Malaysia,” he says.
Leveraging on its stake in Proton and Malaysia’s developing country status, Geely also managed to enter the European and American markets amidst the trade war among China, Europe and the United States, he adds.
As such, these industry leaders believe that approaching international expansion with innovation and integration at the forefront is what led to the successes of various companies.
Guest of honour Dewan Rakyat Speaker Tan Sri Johari Abdul (centre) visiting the LBS Bina Group Bhd booth at the 11th World Fujian Convention at Kuala Lumpur Convention Centre. — FAIHAN GHANI/The Star
