In an exciting development for Southeast Asian commerce, the Malaysia Indonesia Business Council (MIBC), reinvigorated and reestablished, announced its new chairman – the former head of CIMB Group, Tan Sri Nazir Razak.
A brief announcement on Instagram by Nazir encapsulated his gratitude for being chosen for this critical role. He appreciatively acknowledged initial council members including PNB, Maybank, CIMB, KLK, Air Asia, Lorry.com, and NCCIM, indicating further expansion plans.
The MIBC, initially launched in 2002, was guided by the former chief secretary to the government, Tun Ahmad Sarji Ahmad Hamid, until 2021. Now, the reins have been passed on to Nazir, a man known for his immense experience in managing business relationships with Indonesia. At the Council’s first meeting, he voiced his eagerness to leverage this platform to guide other Malaysian businesses in Indonesia.
The MIBC was reestablished in 2022 following a memorandum of understanding between Malaysia and Indonesia. Its primary goal is to provide a stage for Malaysia’s private sector to address and tackle challenges related to economic cooperation between both nations.
With a vision of creating a conducive business environment that nurtures existing businesses and attracts new opportunities, the MIBC’s relaunch was marked by the presence of Tengku Datuk Seri Zafrul Tengku Abdul Aziz, the Investment, Trade, and Industry Minister, and Hermono, the Indonesian ambassador to Malaysia.
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The revitalized council now comprises representatives from leading corporations such as Permodalan Nasional Berhad (PNB), Maybank, CIMB, Kuala Lumpur Kepong, AirAsia, and TheLorry.com, amongst others. The council’s secretariat will be manned by the National Chamber of Commerce and Industry of Malaysia (NCCIM).
During the relaunch, Minister Tengku Zafrul emphasized the significance of the MIBC’s revitalization as a symbol of bolstering business relations with Indonesia. He expressed optimism that the collaboration between MIBC and its Indonesian equivalent, the Indonesia Malaysia Business Council (IMBC), would help foster an environment conducive for trade and investment flows, setting the stage for sustainable socio-economic growth and prosperity for both nations.
The IMBC, chaired by Eko Putro Sandjojo, Indonesia’s former Minister of Villages, Development of Disadvantaged Regions, and Transmigration, is expected to partner with MIBC in shaping sustainable policies, establishing partnerships, and exploring the bilateral business potential between both nations.
(Source: Malay Mail)
