Focus on Backing Our Own Economy
Today is day one of the Titan Inner Circle Meeting (ICM) in Johor Bahru. Four days. More than 200 Titan entrepreneurs from all over the country are here, and they are not just here to learn. They are here to build stronger companies, open up more jobs and contribute more to the national economy.
I believe Malaysia must keep welcoming quality foreign investment. Investment that brings technology, develops local talent, creates jobs and delivers long-term benefit to the country.
But in the middle of all that excitement, don’t let us forget that the backbone of the Malaysian economy is actually our local entrepreneurs and Malaysian MSMEs.
Last year alone, based on our own analysis, businesses in the Titan community generated an economic multiplier of around RM3.3 billion for the Malaysian economy in 2025.
That is not just a number.
Behind that number are thousands of local vendors, suppliers, contractors, agents, freelancers, logistics companies, restaurants, hotels and many other industries that benefit from the economic activity these entrepreneurs create.
More importantly, these 200-plus Titan companies have created at least 3,500 jobs. That means more than 3,500 families have an income. Their children stay in school, the housing loan gets paid, and life gets a little better.
This is the real impact of a business.
So when we talk about national development, don’t look only at the investment that has been promised.
Look also at the value that has already been created.
Recently an issue came up involving The Network School, linked to the possibility of pulling back future investment potential worth US$500 million. Of course Malaysia must keep welcoming quality foreign investment.
But we also need to tell the difference between potential and real impact.
Potential investment is still a plan. It has not become real economic activity yet. It has not created jobs for our people. It has not contributed a single ringgit in tax. It has not moved the local supplier chain or made any direct difference to people’s lives.
On the other hand, every single day thousands of local entrepreneurs are opening their premises, paying their staff, paying taxes, contributing to KWSP and PERKESO, buying from local suppliers, training local talent and driving the economy forward, all without much publicity.
They don’t threaten to pull their investment out.
They just get up every morning, open the shop, pay wages, pay taxes and keep building the country’s economy, no matter what challenges come their way.
These are the people who are the pulse of the Malaysian economy.
At the same time, we should also learn from past experience. The country once made an investment reported to be around RM200 million into an overseas company, eFishery, which later faced allegations and controversy over governance and financial reporting. Whatever the final outcome, that experience reminds us that every ringgit invested has to be accounted for responsibly.
The question is not whether we should reject foreign investment. The question is whether, at the same time, we have given enough attention, confidence and support to the Malaysian companies that have what it takes to become regional and global champions.
The government has announced all kinds of initiatives to help micro, small and medium enterprises (SMEs), from financing, grants, digitalisation, training and automation right through to export development.
These efforts matter and must continue.
But at the same time, the country also needs to be more alert to the new challenges local entrepreneurs are facing. Competition today is no longer just with other local companies. It is with global companies and platforms that have far bigger capital, faster access to technology and a scale advantage that is hard to match.
We don’t need to shut the door on the world.
But we also cannot open it so wide that local entrepreneurs are forced to compete on an uneven field.
We can learn from a few neighbouring countries that keep welcoming foreign investment while at the same time putting in place policies and a regulatory framework that protect the interests of their local entrepreneurs.
They make sure foreign platforms operate fairly, don’t impose charges that burden local traders, comply with national rules and give back to the domestic economy.
The reality is that Malaysian entrepreneurs are already facing very big challenges.
Operating costs are going up. Profit margins are getting thinner. Competition is getting fiercer. Good workers are hard to find. Technology is changing too fast. Access to financing is still a struggle for many entrepreneurs.
That is why almost every week we see a company announcing that it is closing down, scaling back or posting big losses. Behind every company that closes, there are workers who lose their jobs, families who lose their income and dreams that have to be put on hold.
I also know some people will say, ‘Aren’t there Titan alumni whose businesses went under or had to close in the end?’
My answer is simple. Yes, there are. And I have never denied it.
Business is not an easy journey. I have been on this road for almost two decades myself. I know that ups and downs are part of an entrepreneur’s life.
But one thing I have learned is this: the world changes too fast for us to stop learning.
In all my years coaching entrepreneurs, I have seen that those who keep growing are the ones who keep adding knowledge, seeking outside views, adjusting their strategy and are willing to be coached as times change.
On the other hand, some choose to stop learning, stop seeking guidance, or feel they already know enough. When the market changes, technology changes and customer behaviour changes, they end up facing all of it alone.
That is why I have never promised that every entrepreneur will succeed. But I have always worked to make sure more entrepreneurs have the knowledge, strategy, community and support system that raise their chances of surviving, growing and building stronger companies.
That is exactly why national policy cannot just be about attracting new investment. It must also make sure the local entrepreneurs who are fighting it out today can keep surviving, growing and competing.
Competition is healthy. But competition must be fair.
When local entrepreneurs get stronger, they will keep hiring Malaysians, paying taxes, producing more business leaders, growing the local supply chain and creating more opportunities for the next generation.
The fact is, MSMEs contribute close to 40% of Malaysia’s GDP. That is not a small number. It is proof that the future of our economy does not rest on giant corporations or foreign investment alone, but on the strength of hundreds of thousands of local entrepreneurs who get up every morning and open their shops, factories, offices and companies.
That is why I have always believed that every time we help one entrepreneur grow, we are actually helping a family.
Every time a local company hires one new worker, we are actually building a family’s future.
And every time we choose to strengthen Malaysian entrepreneurs, we are actually protecting the national economy.
Foreign investment matters a great deal. But building local entrepreneurs is a national strategic necessity. Because investors can come and go. Local entrepreneurs will keep building companies, hiring people, paying taxes and contributing to the country for generations to come.
When Malaysian entrepreneurs succeed, the Malaysian economy becomes stronger. When the Malaysian economy is stronger, Malaysians live better too.
Datuk Wira