The Ministry of Investment, Trade and Industry (MITI) is intensifying efforts to empower young entrepreneurs in Malaysia and across ASEAN, in tandem with the country’s current role as ASEAN chair, said Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz.
Speaking at the closing keynote of the Nusantara Youth Forum 2025 in Putrajaya, Tengku Zafrul underscored MITI’s commitment to regional youth entrepreneurship through pivotal initiatives such as the ASEAN SME Academy and the Digital Economy Framework Agreement (DEFA).
DEFA, described as the world’s first regional digital economy treaty, is expected to expand ASEAN’s digital economy to over US$2 trillion by 2030 while creating millions of jobs. “These are not just statistics; they are doorways to your future,” Tengku Zafrul emphasised, noting the transformative potential these initiatives hold for aspiring entrepreneurs across the region.
He also highlighted how Malaysia’s long-term economic strategy is aligned with regional goals. “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,” he said.
NIMP 2030 aims to generate quality employment and maintain the global competitiveness of Malaysia’s key industries, particularly in the electrical and electronics sectors as well as green technology. “NIMP’s core mission is to ensure our industries remain globally competitive, resilient, and sustainable,” Tengku Zafrul added.
The minister further stated that national frameworks such as NIMP not only advance Malaysia’s own development but also reinforce broader ASEAN efforts. “They complement regional 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 explained.
Tengku Zafrul also addressed the vital role of arts and culture in economic and social development, pointing out that the creative sector is often undervalued. “The truth is, culture and creativity are economic engines, identity builders, and bridges between nations,” he said. He noted that ASEAN’s creative industries, including music and film, are rapidly gaining global recognition.
In closing, the minister stressed the significance of youth-led entrepreneurship as a catalyst for economic growth and societal progress. “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 said.
-Bernama
