KUALA LUMPUR: Malaysian logistics providers have been called on to enhance the quality of their services in preparation for increasing equity liberalisation in the years to come.
International Trade and Industry Minister Tan Sri Muhyiddin Yassin said Asean member states would undertake equity liberalisation to allow up to 49% of foreign equity by this year.
“This will increase to 51% by 2010 and 70% by 2013.
“This means that Asean, and specifically Malaysian logistic providers, must enhance the quality of their services to prepare themselves to face competition both globally and from the region.”
Muhyiddin, who was making his opening remarks at the 24th International Air Cargo Forum & Exhibition 2008, said the logistics industry was a strategic industry now.
“No longer can it be considered a supporting industry. In 2007, it contributed 12.2% to the country’s GDP. The value of air cargo being transported in 2007 was worth RM1.1bil.”
He added that Malaysia was well placed geographically to serve as a transport hub for the region and that the Government was working hard to facilitate and streamline processes in the industry.
“For example, the clearance of cargo can now be done in a day compared with three days previously.”
The exhibition, which is organised by The International Air Cargo Association (TIACA), began Tuesday and ends Thursday and saw the participation of logistics and cargo companies from all over the world.
Source: Star Online