January 2015, Vol.14

MESSAGE OF THE YEGAP CHAIRMAN What’s The Young Entrepreneurs Group of Asia Pacific started from a simple Inside goal, born of a clear vision: to serve as a springboard for projects and activities geared towards entrepreneurial development among young entrepreneurs in the Asia-Pacific rim. Message from the True to its advocacy, YEGAP serves as an effective venue for identifying CACCI President suitable programs geared towards entrepreneurial development for page 2 entrepreneurs in Asia Pacific. Through the years, the YEGAP has committed itself to help transform the Asia-Pacific economy to one that is vibrant, KL breakout session underscores competitive and integrated to the world market. Crucial to this commitment is need to empower youth the promotion and development of the entrepreneurship movement, particularly page 8 youth entrepreneurship, in each member country of the Confederation of Asia Pacific Chambers of Commerce and Industry. Hendy Setiono bags 2014 In the Asia-Pacific region, the state of entrepreneurship has never been as CACCI Asia Pacific Young dynamic as it is today. Entrepreneurs now have the vital role of further increasing Entrepreneur Award regional business interaction, networking and enhancing regional economic growth. page 9 The YEGAP, most importantly, plays a key role as in promoting a proenterprise spirit for young entrepreneurs among the Asia-Pacific country members of CACCI. In Online Work: The Game- order to promote a pro-enterprise spirit, the YEGAP pushes for collaboration between Changer for Asia’s enterprises, universities, social corporations and foundations, and government. This Entrepreneurs collaboration serves as the anchor for start-up entrepreneurs and business innovation. page 10 It is our plan of action to strategize on cultivating from the young a culture of entrepreneurship; passing on of second expertise from universities and large enterprises to budding entrepreneurs; providing internship through training Unleashing Taiwan’s opportunities to SMEs through visits and attachments to large enterprises of CACCI entrepreneurs member countries; and building networks by encouraging the private sector to assist page 13 young entrepreneurs in networking through trade directories, trade missions and business matching. Ceylon Chamber invites It has been an eventful journey of learnings and successes with the young professionals to join YEGAP. We have grown into an organization of 27 country members. Our vision Young Members Forum to be amongst the region’s best entrepreneurship organization has set page 14 the tone for us in terms of how we work and how we make decisions. We are constantly seeking new ideas, new mentors, and new technologies. Openness to learn from anyone is key regardless of his or her rank, age or stature in life. And the YEGAP has the distinct privilege of having a multi- cultural set of powerful and very successful entrepreneurs as members and mentors. As we celebrate YEGAP’s 10th Anniversary in 2015, we remain optimistic and confident that together we can really think big and move forward more boldly. It is our hope that we will all find new sparks of inspiration that will translate real life-changing experiences not only for ourselves but more so for the many entrepreneurs who we still have not reached out to. It has been a tremendous opportunity for us to build the Young Entrepreneurs Group of Asia Pacific with all of you. And it has only been 10 years. Expect bigger things to come from the YEGAP in the next 10 years, and beyond.

Anna Marie Periquet Chairman, YEGAP The officers and members of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) are pleased to convey our sincerest and warmest congratulations to the Young Entrepreneurs Group of Asia-Pacific (YEGAP) on the occasion of its 10th Anniversary this year.

CACCI is proud to have YEGAP as one of its Product and Service Councils. Since it was formally organized during the 68th CACCI Council Meeting held in May 2004 in Phnom Penh, Cambodia, YEGAP has provided a venue for young entrepreneurs in CACCI member countries to get actively involved in entrepreneurial development. CACCI hopes that the YEGAP, under the competent leadership of Ms. Anna Marie Periquet from the , will continue to serve as an effective platform for identifying suitable programs geared towards entrepreneurial development for young entrepreneurs in the Asia-Pacific region.

CACCI believes that it is critical for businesses — large and small — to support efforts to promote youth entrepreneurship. Youth entrepreneurial development should be part of our objectives. As private industry sector leaders, many of us have been blessed with many great gifts, one being the ability to support the youth — our future — to realize their dreams. That’s something that YEGAP has stood behind since it was founded ten years ago. I believe that what business leaders get out of providing this support has as much impact as what the young entrepreneurs get out of it. I am strongly confident that with the right tools, the next generation of entrepreneurs can change the world.

As it celebrates an important milestone, we wish YEGAP an even brighter and more promising future ahead. We also look forward to YEGAP’s continued contribution to CACCI’s goal of achieving regional cooperation and economic development in Asia-Pacific.

I wish YEGAP success in all its future undertakings.

Jemal Inaishvili President, CACCI

2 Clockwise: (1) YEGAP Inaugural meeting in New Delhi on Feb. 18, 2005 (2) Mr. Frianeza, Dr. Trihono, Ms. Periquet during the welcome reception in Tbilisi, Georgia on Oct. 27, 2005. (3) Mr. Ted Suzuki chairs the YEGAP session in Taipei, Taiwan on Nov. 1, 2006

Left to right: (1) YEG-Japan CCI hosts a cocktail reception in Perth, Australia on July 26, 2007 (2) Breakout session in Manila, Philippines on October 22, 2008 (3) YEGAP meets in Yokohama, Japan on May 31, 2009

Clockwise: (1) Ms. Periquet chairs the session in Colombo, on July 6, 2010 (2) Delegates participate actively in Istanbul, Turkey on March 7, 2011 (3) YEGAP welcomes NYEF as its newest member in Kathmandu, Nepal on October 5, 2012 (4) Ms. Periquet and Mr. Suzuki receive CACCI medallions in Cebu, Philippines on March 14, 2013 (5) YEGAP joins SME Council for the concurrent breakout session held in Kuala Lumpur meeting on September 18, 2014

3 New Delhi- February 18, 2005 committee meeting when it meets in to young entrepreneurs through visits Background 2006. and attachments to large enterprises The creation of the Committee As Chair, the Philippines is of CACCI member countries must be on Youth Entrepreneurship was tasked to spearhead and pilot a program focused on. approved during the 68th Council or project to be implemented in the 25- Meeting of CACCI held in Phnom member countries of CACCI. This is 1st Asia-Pacific Young Entrepreneur Penh, Cambodia last May 2004. The to be presented for approval during the Awards Philippines was elected as the first chair next CACCI Council Meeting in late Ms Periquet informed the of the committee with Ms. Anna Marie 2005 in Georgia. body that the Council approved the Periquet as chairperson. launching of the First Asia-Pacific The committee was formally Tbilisi- October 27, 2005 Young Entrepreneurs Award to be held launched and held its first meeting during The break-out session of in Taipei during the 40th anniversary of the 20th CACCI Conference. Ms. Periquet the Young Entrepreneurs Group CACCI. Ms. Periquet then presented chaired the meeting. Asia-Pacific, or YEG-AP (the newly the proposed criteria and mechanics of adopted name of the group, which was the awards which the body approved. Keynote Speaker originally called the Committee on The Committee invited Mr. Youth Entrepreneurship), was called to Taipei- November 1, 2006 Teisuke Suzuki, Chairman of the order and chaired by Ms Anna Marie Mr. Teisuke Suzuki, Vice- Federation of Young Entrepreneurs Periquet. Chairman of YEGAP, chaired the Group (YEG) from Japan as its keynote Mr George Abraham, chairman breakout session on behalf of YEGAP speaker. The YEG, an independent of the Committee on SMEDevelopment, Chairman Ms. Anna Marie Periquet, private sector led organization with nominated Japan, specifically the YEG who cancelled her trip to Taipei at the affiliation to the Japan Chamber of of Japan, as co-chair of the YEG-AP. last minute due to a medical emergency. Commerce and Industry (JCCI), has a Mr. Kiyoshi Yamada of JCCI informed Mr. Suzuki reported that the first part total of 33,000 members. Mr. Suzuki the body that he would have to consult of the breakout session featured the is also the single largest fish cake with Mr Ted Suzuki of YEG regarding following three speakers: manufacturer in Japan with 15.5 billion the co-chairmanship. The body deferred Dr. Chris Tsai talked about his yen in sales annually. the election of a co-chairman pending experience in setting up his biotechnology Mr. Suzuki gave an overview the acceptance of Japan. company, Bionet Corporation of which of the present state of entrepreneurship he is CEO. Mr. Jonathan Jay Aldeguer, in Japan. He noted that the Measures to Implement the Committee’s President of Islands Souvenirs from the entrepreneurship movement in Japan Plan of Action Philippines, outlined some of the policy is private-sector led with minimal Ms Periquet informed the measures undertaken in the Philippines government support. He also shared body that in line with the Plan of to promote entrepreneurship in the with the committee the success of the Action to build networking, the CACCI country. YEG, its organizational structure and encourages the private sector to assist Mr. Teisuke Suzuki made a programs. young entrepreneurs in networking presentation on the Young Entrepreneurs through trade directories, trade missions, Group of Japan Chamber of Commerce Next Step business matching and sub-contracting and Industry, focusing on its activities The committee approved Ms. businesses. and the important role it plays in Periquet’s proposed Plan of Action and The body agreed that the plan of helping contribute to the vitality of the agreed to follow this through in the next action to provide training opportunities communities, Continued on page 5

4 Continued from page 4 among members. The maiden issue Entrepreneurship in the Philippines”; the SMEs, and the local economies. was edited by Ms. Periquet, with the and Honorable Jose Ma. Concepcion, On the matter of the newsletter, assistance of the CACCI Secretariat. Cabinet Secretary and Presidential the meeting participants decided in The second issue will be edited by Mr. Adviser for Entrepreneurship, who principle to come up with an issue on Teisuke Suzuki, Vice Chairman of talked about entrepreneurship as one of a regular basis. They agreed that the YEGAP. the solutions to the problem of poverty newsletter would provide an effective facing the Philippines. platform for members to exchange 2nd Asia-Pacific Young Entrepreneur The session discussed the views on issues of concern to young Award following activities of the YEGAP: entrepreneurs, to keep themselves Ms. Periquet also announced (i) YEGAP Newsletter; (ii) 2nd Asia- updated on the policy and business the launching of the 2nd Asia-Pacific Pacific Young Entrepreneur Awards; environment in their respective Young Entrepreneur Award of CACCI. and (iii) the creation of YEG Chapter in countries, and to be informed on the The Award was first presented during each CACCI member country (noting activities members undertake to help the 21st CACCI Conference held that formed its YEGAP promote youth entrepreneurship. in Taipei in November 2006, which chapter recently). also marked the 40th Anniversary of Perth, Australia- July 26, 2007 the Confederation. Mr. Mohammed Yokohama, Japan- May 31, 2009 Ms. Anna Marie Periquet Sulayman Rubel, Managing Director of The Special Session on chaired the breakout session of the Rare Group from , was the YEG-AP was attended by over a Young Entrepreneurs Group Asia- first winner of the Award. Ms. Periquet hundred delegates from Japan YEG, Pacific (YEGAP). The session featured said that the Second Award will be Bangladesh, , Iran, Mongolia, a presentation by the Honorable Fran presented during the 22nd CACCI Nepal, Philippines, Russia, Sri Lanka, Bailey, Federal Minister for Small Conference in 2008. Taiwan, and Georgia. YEG-AP Business and Tourism of Australia, the invited two speakers to share their state of entrepreneurship in the country. Manila- October 22, 2008 entrepreneurial experiences in their Minister Bailey shared her views on The meeting was opened by respective countries. the challenges faced by Australian Ms. Anna Marie Periquet, YEGAP Mr. Tsuyoshi Yamauchi, entrepreneurs, government policies Chairperson. She welcomed all the Chairman of Japan Young Entrepreneurs and private sector measures adopted participants and said that there was a Group, shared the model and structure in Australia aimed at encouraging need to work together amidst the global of the Japan YEG which boasts of a entrepreneurship in the country, challenges that are ongoing in order for membership base of 26,000 members. and possible areas of cooperation all member countries to attain global Mr. Daisuke Yamazaki, Vice President among CACCI countries. competitiveness. of Motherhouse Co., Ltd., shared his Ms. Periquet introduced the experience as a bag manufacturer in YEGAP Newsletter following speakers: Mr. Tetshiyuko Bangladesh, Nepal and India with retail Ms. Periquet announced Udo, Chairman of the Japan shops in Japan. Mr. Hirochi Ouchi, the publication of the maiden issue Entrepreneurship Group who gave Secretary General of the Japan CCI, of the YEGAP newsletter entitled an update on the various projects of discussed the entrepreneurship programs “Entrepreneur Asia-Pacific.” The the group in Japan; Mr. Dennis L. of Japan CCI. Most notable of these newsletter is to be published every Cunanan, National President, Junior programs is the conduct of free courses quarter and is intended to serve as a Chamber International-Manila, who to students on start-up businesses. platform for an exchange of information spoke on the“Experience of Youth Continued on page 6

5 Continued from page 5 Entrepreneurs Board of Turkey. to submit the articles for the proposed YEG-AP Newsletter book. The 3rd edition of the Colombo, Sri Lanka- July 6, 2010 Five finalists have been Entrepreneur Asia Pacific Newsletter Mr. G.M.S. Bandara, Director selected for the 3rd Asia Pacific Young was disseminated to all CACCI member for Small Enterprises Development of Entrepreneur Award – two from the chambers, as well as to the delegates in the Ministry of Youth Affairs, presented Philippines, one from Russia, and two Yokohama. official policies to encourage and from Sri Lanka. The awarding ceremony support entrepreneurship development will be held during the Gala Dinner. 3rd Asia-Pacific Young Entrepreneur Award in Sri Lanka. Mr. W.K.H. Wegapitaya, Ms. Periquet introduced The 3rd Asia-Pacific Young Founder and Executive Chairman, the newly appointed Director for Entrepreneur Award will be conferred Laughfs Holdings Ltd. of Sri Lanka, Program Development of the YEGAP, during the 24th CACCI Conference in gave a presentation on the status and Mr. Waqas Masud Mian. She also Colombo, Sri Lanka. Nominations will prospects of entrepreneurship in Sri welcomed new local chamber YEGAP be accepted by January 2010. Lanka. member representatives: Mr. Dante Mr. Waqas Masud from Ang II from the Philippines; Mr. Hendy Membership Expansion and Networking Pakistan presented the proposal on the Setiono from , Mr. Edgar Sia The YEG welcomed the Young Entrepreneur Host Program II from the Philippines; and Ms. Golnaz following new members: Bangladesh (YEHP). Said project proposal was duly Salahshour from Iran. CCI (Mr. Badal Rahman, YEG noted. Ms. Periquet informed the body - Bangladesh); Iran CCI (Ms. that YEGAP will fine tune the proposal Istanbul, Turkey- March 7, 2011 Rojyar Pouyeh, Chairman, Young and circulate among YEGAP members The break-out session was Entrepreneurs Council); Nepal CCI for ad referendum approval. attended by 82 participants representing (Mr. Saurabh Jyoti, President, Nepal The YEGAP will launch its various country delegations. Young Entrepreneurs Federation of talk show on entrepreneurship and Mr Nevzat Aydın, President the FNCCI ); Nepal CCI (Mr. Bhaskar business in the Manila Times Online and CEO of Yemeksepeti.com, gave Raj Rajkarnicar, VP, FNCCI); Russia TV in August 2010. Entitled “Pinoy, a presentation on “Starting up and CCI (Mr. Sergei Vasiliev); and Turkey Incorporated”, the talk show will Expanding the Business: A Turkish TOBB (Mr. Ali Sabanci, President, feature successful entrepreneurs and Experience.” Mr Motoharu Nishii, Young Entrepreneurs Board). The business leaders from the Asia Pacific Chairman of Japan YEG, made a following chambers shall be sending region. presentation on the Young Entrepreneurs their respective representatives to the The YEGAP column in Group of Japan Chamber of Commerce YEG-AP: Georgia, India, Mongolia, Manila Times is now on its first year. and Industry. and Sri Lanka. She encouraged the representatives of Mr Shahrukh Malik, who is YEGAP in the local chambers to invite chairman of the Young Entrepreneurs YEG Affiliates in CACCI Member entrepreneurs to submit their feature Forum of SAARC Chamber of Countries stories and articles for the column. Commerce and Industry and director of The following YEG affiliates The publication of the YEGAP Guard Group of Industries, presented are currently members of the YEG-AP: Book on the State of Entrepreneurship in an investment case from a young YEG-Bangladesh, Young Entrepreneurs Asia Pacific will be delayed pending the entrepreneurs point of view. Council of Iran, YEG-Japan, Nepal submission of materials from the local The launching of the 4th Asia- Young Entrepreneurs Federation, YEG- chambers. She urged the participants to Pacific Young Entrepreneur will be in Philippines, Russia, FCCI, and Young remind their respective local chambers mid-2011. Continued on page 7

6 Continued from page 6 210 participants representing various chairman of the Young Entrep reneurs YEGAP Website delegations. Group Asia-Pacific welcomed the The YEGAP website will be Mr. Hiroaki Hyodo of the participants and stated that year after launched by April 2011. Members shall Young Entrepreneurs Group of Japan year, he takes pride in co-chairing the be informed about the launch date gave an update on the various projects YEGAP Breakout Sessions. through an e-launch card. of YEG Japan. He said that the main Hon. Laura Del Rosario, role of his group is to listen to the Undersecretary for Economic Relations Tie-up with CIPE various issues and problems of their and Senior Official of the Philippines The YEGAP is currently members and formulate solutions that for the Asia Pacific Economic affiliated with the Center for are forwarded to the Government for Conference, under the Department of International Enterprise (CIPE). CIPE their consideration. He also shared the Foreign Affairs, made a presentation on strengthens democracy around the model and structure of the Japan YEG entrepreneurship and SMEs in a global globe through private enterprise and which boasts of a membership base of economy and growth of SMEs in the market-oriented reform. 30,000 members. Philippines and Asia Pacific region. Mr. Ajay Pradhanang, NYEF Also invited as speakers were Organizational Structure President, gave a presentation on the Mr. Steve Benitez, CEO of Bo’s Coffee, It was agreed upon that Mr status and prospects of entrepreneurship Cebu’s premiere coffee place. Benitez Teisuke Suzuki, vice chairman of in Nepal by expounding on the current made a presentation on how he started YEGAP, shall continue to serve as industrialization efforts of both the his small coffee kiosk into a chain of 60 YEGAP Vice Chairman. Mr Kenjiro government and private sector. coffee shops in Cebu and Manila. Oyama, 2011 Chairperson of Japan Ms. Asmi Rana, Director Mr. Ajay Pradhanang, YEG, was appointed YEGAP Director of International Business, Educomp Chairman of the Nepalese Young for the Committee on International Solutions India, Ltd., gave a presentation Entrepreneurs Forum (NYEF) and Relations. Mr. Waqas Masud was re- on education and entrepreneurship by President of Fleur Himalayan, Ltd. appointed YEGAP Director for the highlighting the importance of skills made a presentation on doing business Committee on Programs. and leadership. in Nepal and the current activities of Finalists of the 4th Asia-Pacific NYEF. Membership Expansion and Networking Young Entrepreneurs Award also made Mr. Kenjiro Oyama, Chairman The YEGAP welcomed new brief presentations. of Young Entrepreneurs Group Japan members TOBB Young Entrepreneurs YEGAP welcomed NYEF and president of Manpower Security Board (Turkey) and the Young as its newest member.YEGAP signed presented the model and structure of Entrepreneurs Forum of SAARC CCI an MOU with NYEF, as witnessed by the Japan YEG, which now boasts of a (Pakistan). FNCCI chairman, FNCCI and CACCI membership base of 28,000 in 2013. officers. YEGAP admitted new Kathmandu, Nepal- October 5, 2012 members: YEG Cebu, YEG Tarlac Ms. Periquet acknowledged Cebu, Philippines- March 14, 2013 City, and YEG Naga City all from the Nepalese Young Entrepreneurs Ms. Anna Marie Periquet the Philippines. It was announced that Forum (NYEF) for their dynamic role chaired the breakout session of nominations for the 5th Asia Pacific in organizing a successful breakout the Young Entrepreneurs Group Young Entrepreneurs Award are now session. The YEGAP break-out Asia-Pacific (YEGAP) which was open. During the session, NYEF offered session in Kathmandu registered the participated in by over 100 delegates. to host the first YEGAP Conference in highest number of attendees with Mr. Teisuke Suzuki, co- Kathmandu, Nepal in 2014. 

7 KL breakout session underscores need to empower youth through entrepreneurship and innovation

Clockwise: (1) Mr. Anshul Sonak, Regional Education Director, Intel Technology Asia Pte Ltd; Mr Agil Faisal, Chairman, Panel on Young Entrepreneurship, SME Corporation ; Mr. George Abraham, Chairman of the SME Development Council from ; Mr. Anura Lokuhetty, Chairman of the Asian Council on Tourism from Sri Lanka.; and Dr. Sheikh Ghazali Abod, Chief Operating Officer, Center for Entrepreneurship Development and Research pose for a group photo after the breakout session. (2) Mr. Ajay Pradhanang, Managing Director of Fleur Himalayan Ltd. and former president of the Nepal Young Entrepreneurs Forum raises a question at the open forum. (3) Mr. George Abraham answers a question from the audience. Mr. Abraham is sitting in for YEGAP Chairman Ms. Anna Marie Periquet.

here is a need to empower the on Young Entrepreneurship, SME They also see social media youth as global demands are Corporation Malaysia; and Dr. Sheikh as a great platform for promoting leading to new inventions, Ghazali Abod, Chief Operating entrepreneurship, and called on young Tnoting that the present- Officer, Center for Entrepreneurship people to have an entrepreneur’s day needs of youngsters are totally Development and Research. mindset and be generous in sharing their different from those of the past. This Co-chairing the breakout session knowledge and experience in business was the message conveyed by the were Mr. George Abraham, Chairman and entrepreneurship. panelists of the breakout session on of the SME Development Council from This session also examined “Entrepreneurship and Innovation: Singapore, and Mr. Anura Lokuhetty, measures to make countries in the region Empowering the Youth” held on Chairman of the Asian Council on change their outlook on innovation September 19, 2014 in conjunction with Tourism from Sri Lanka. and entrepreneurship; discussed ideas the 28th CACCI Conference in Kuala The panelists agreed that young on how young people can lead this Lumpur, Malaysia. people should be given a chance to get transformation by turning their talents The panelists included Mr. involved instead of just merely learning and ideas into successful projects and Anshul Sonak, Regional Education from their mentor, emphasizing the shared views on how the private and Director, Intel Technology Asia Pte importance of building network which government sectors can create an Ltd; Mr Agil Faisal, Chairman, Panel can be useful for business in the future. entrepreneur-friendly culture. 

8 Hendy Setiono bags 2014 CACCI Asia Pacific Young Entrepreneur Award

endy Setiono, President Director of PT Baba Rafi Indonesia, took home the H5th Asia Pacific Young Entrepreneur Award presented by CACCI during the gala dinner of the 28th CACCI Conference held on September 19, 2014 in Kuala Lumpur. Setiono founded his Turkish kebab business when he was just 20 years old, with a US$400 capital borrowed from his sister. The idea was born when Setiono visited his father who was then working for an oil company in , and his mother who works as a teacher. He was curious about the popularity of kebab in the Middle East, saw its potential and wanted to bring the concept home. With borrowed money, Setiono Hendy Setiono (third from right) raises his trophy and certificate after winning the built a humble kebab pushcart which 5th Asia Pacific Young Entrepreneur Award presented by CACCI on September 20 soon became known as Kebab Turki in Kuala Lumpur. Setiono is joined by finalists from Bangladesh, Iran and Pakistan. Baba Rafi. The response exceeded beyond expectation and three carts good business ethics and support of the Entrepreneur Award is a project of the were built the same year. The first chamber movement in the region. Young Entrepreneurs Group of Asia outlet was established in the early 2003 Pacific (YEGAP) of CACCI. in Setiono’s hometown in , Other finalists Inaugurated in 2006 to Indonesia. In 2006, he applied for a The four other finalists were commemorate the 40th anniversary franchise system as part of his strategic Mr. Mohammed Riyadh Ali, Managing of CACCI, the Asia Pacific Young business development. Director, Intraco Group, Bangladesh; Entrepreneur Award aims to honor At present, Kebab Turki Baba Mr. Morteza Hadavandi, Founder and excellent young entrepreneurs in Rafi has over 1,000 outlets across Managing Director Razin Polymer, the Asia Pacific Rim who are not Indonesia, and have expanded overseas Iran; Ms. Banafsheh Sedigh, Member only successful in their business, in Malaysia, the Philippines, , of the Board and Managing Director but also advocate corporate social Vietnam, Sri Lanka, and soon the Shir-Gaz-Laleh Mfg. Co. (SHIGAL), responsibility for the good of their . Setiono and his team Iran; and Mr. Khaliq Ahmad Minhas, country. continues to attract more investors from CEO, Tariq Pipe Industries, Pakistan. Conferred every two years, across the world and aims to become the award is open to female or male the Asian Subway- the famous Western Board of Judges entrepreneurs below 45 years of age, fast-food joint selling submarine This year’s members of the nominated by any CACCI primary . board of judges were Mr. Jemal member. Given the number of employees Inaishvili, newly-elected CACCI To qualify, the nominee must who are part of the Babarafi group, President; Mr. Stewart Forbes, be engaged in his/her country-based or Hendy Setiono started a transformational Executive Director Malaysian international-based profit organization corporate social responsibility initiative International Chamber of Commerce and actively involved in a business- called The Baba Rafi Academy, with and Industry (MICCI); Mr. Crisanto related non-profit organization or in an objective of creating and grooming Frianeza, Secretary General Philippine a CACCI primary member country’s the next generation of socially Chamber of Commerce and Industries; activities. He or she must exercise and environmentally responsible Mrs. Lee Ju Song, Director ICC Asia; excellence in entrepreneurial and entrepreneurs. and Mrs. Magvan Oyunchimeg, CEO business leadership, and must be Through his achievements, of Mongolian National Chamber of regarded in his or her country with Setiono represents an exceptional young Commerce and Industry (MNCCI). integrity and known for practicing good Asian entrepreneur who continues to business ethics. contribute to the social well-being of The Award The winner receives a trophy the local economy with practice of The 5th Asia Pacific Young and US$2000 cash prize. 

9 Getting to know Hendy Setiono

n a written interview with the What principle of entrepreneurship do businessman? CACCI Secretariat, 2014 Asia you wish you knew when you were first I do believe that bravery is the Pacific Young Entrepreneur starting out? greatest asset of an entrepreneur. The IAwardee Mr. Hendy Setiono It will be great if we have world’s most successful entrepreneurs shares with us his entrepreneurial knowledge on how to prepare are the bravest. They dream beyond journey. ourselves to face business failures, sleeping hours, they cannot separate What was your first “business venture” obstacles and financial insecurity, and work from life and they take action and what was the biggest lesson you having a strong determination to build without overthinking and over learned from it? our business. analyzing. Entrepreneurship is highly In my second year as an intuitive. No university lecturer or Informatics Engineering student at the What has been the most textbook can teach you ‘intuition’. ‘Gut Institut Teknologi Sepuluh Nopember satisfying decision feel’ is not an acquired skill or talent. It Surabaya, I decided to start my business you’ve made as a is neither inherited from your parents venture by opening a small business businessman? and cannot be coached and drilled in. selling burgers, but unfortunately it The most ‘Gut feel’ and ‘business intuition’ may didn’t do well because of lack of proper satisfying decision be harnessed by experience, but you can management. I had to close it down that I’ve only monetize and capitalize on it when but that didn’t stop me from looking made as a you match it against your true talent for new business opportunities. I kept and passion. trying and working hard to overcome challenges. Would you recommend to someone The lesson I starting out a business to attend learned from my first a business school, or skip the business venture is that degree and learn along the building a business from way? scratch is a struggle that First of all you have involves extraordinary to ask yourself: Is there a sacrifices. My journey of good enough reason for you becoming an entrepreneur to stay or drop out? Sometimes, has not been smooth sailing. great ideas just can’t wait, and There are constant obstacles but spending four years in college will I am optimistic and motivated. result in missed opportunities. Some of the most famous and successful Who is your business mentor, or entrepreneurs of all time, like Bill who had the greatest influence in Gates and Steve Jobs, never received your business life? a college degree. I myself dropped One of my role models out from college to chase my passion is Mr. Tony Fernandes. I admire his businessman is establishing my business of being an entrepreneur but trust me it leadership. Tony is transforming Kebab Turki Baba Rafi in Indonesia wasn’t easy. business through Air Asia and Tune and its over 1,200 outlets as well as its If you are confident that your Group pursuits. His ideas have really international expansion to Malaysia, business needs you more than you need blown me away and encourage me to Philippines, China, Sri Lanka and soon school, take a leave of absence and give dream bigger. to the Netherlands. I am most proud of yourself the option of returning. You providing jobs to thousands of people never know what may happen to your Who gave you the best business advice and through the years. business and you don’t want to abandon what was it? your backup. Something I always remember What was the toughest decision you had to from Mr. Tung Desem Waringin make? How do you go about making tough Is there any difference between your seminars, which I often attend, is that decisions? country and the rest of the world in the we must have the courage to start a The toughest decision was nature of your industry/business? business even if it is only small in line to quit college and pursue my dream Indonesia is Southeast Asia’s with our capability. Because of that to build my own business. But I never largest economy with 240 million people. advice, I had the courage to start my regretted it, I listened to my instinct and During the difficult global economic business. that decision has made me who I am conditions in 2009, Indonesia’s right now. economy was among the top worldwide Do you have a favorite business book? performers, due to a number of factors My favorite business book is What do you think are the most important like strong domestic demand and rich Air Asia Way. attributes of a good and successful natural resources. Continued on next page

10 Alibaba chief says give youth a chance

libaba founder Jack Ma Ma said he first noticed this on December 15, 2014 trend in June 2001 while attending urged Taiwanese business an innovation forum in Taiwan. The Aleaders to repair a private- majority of participants were “very sector culture that is unfriendly toward elderly,” he said. youth. “Innovation is a young The Chinese entrepreneur person’s game,” he said, urging gathered a crowd of press upon seasoned business leaders to pass the his arrival at the Cross-Strait CEO torch. Summit in Taipei, which drew about Ma, a former English teacher, 800 business figures from both sides launched Alibaba in his apartment in Alibaba Chief Jack Ma of the Taiwan Strait. 1999. He topped the Forbes China In his keynote speech, Ma Rich List this year after the company is true. I applied to 30 jobs and did said that since a sea of changes broke the global record for largest not get a single one. One was at a swept across China’s sociopolitical initial public offering. KFC. Twenty-five people applied, landscape, many of its businesses 24 got a job, I didn’t. And the boss have emerged as global leaders. ‘Very confused and anxious’ was Taiwanese!” he said. The people spurring these In the keynote, Ma also said It’s normal for youth businesses were unknown 15 years that youth should seize opportunities to feel anxious but the process ago, he said. “These are all young when they arise. should spark soul-searching people, and their enterprises are young “Youth today, many of them and action, he said, calling on enterprises.” are very confused and anxious. They youth to pursue opportunities During the same 15 years, always seem to think there aren’t proactively. Taiwan’s private sector hasn’t many opportunities.” “Grab them - opportunities produced many new companies, he “I’ve been very confused only become your own through said, attributing the fact to a business and anxious before, too. On the persistence and continuous effort culture that has extended few internet there is a story about how I toward improvement,” he said. The opportunities to youth. once applied to 30 jobs - that really China Post 

Continued from page 4 the challenges in F&B Industry by downs. One should change his mindset Solid macroeconomic fundamentals, a responding faster to changes in customer on failure and turn it into success. stable currency and recent upgrades in demands, handling multiple channels, That is what distinguishes a successful bond ratings have made Indonesia an exceeding food safety and recall person. economy to watch for in the coming management standards, managing and While running this business, I decade. speeding up supply chain, and bringing am very grateful to have been awarded new products to market faster. nationally and internationally in the What’s the biggest change you’ve seen in field of entrepreneurship. I get a good your business or your industry? How has the recent global economic and relationship from business partners Our business is in food and financial crisis affected the way you run or other entrepreneurs. I also had the beverage industry, where there is the business? opportunity to visit Russia, Switzerland, always a race. We need to increase Global economic and financial and the US to attend sessions on the speed of innovation, so we can crisis affects how I run my business, entrepreneurship. Each activity and the introduce new products quickly to but fortunately, the SME sector can time involved was a valuable experience meet changing customer tastes and play a significant role in the growth for me. beat competitive pressures. At the of the country like Indonesia. SMEs same time, we must speed up response create new job opportunities, and have What advice would you give to young to compliance requirements, quickly the potential to respond to the changes people who want to start their own updating formulations, specifications, in environment in a global context. A business? and labels to meet constantly changing well-developed SME sector is able to One important advice I would regulations. uphold macroeconomic stability and share with young people who want growth. to start their own business is ‘’Be What are the challenges facing your optimistic, innovative and open minded industry and how do you manage them? What’s the most important lesson you’ve to changes.” It is also important to “not I think competition is among learned in business? fear failures as failures are learning the many challenges facing the food and Among the lessons and processes to achieve success.” And of beverage industry. Having a competitor insights I get from this business is that course “have the courage to start the boosts up my creativity so there will be running a business is not instant. It is a business right now! Don’t wait. Action... new and innovative ideas. We manage process where you go through ups and Action... and Action!!!” 

11 Sabah entrepreneur wins 2014 TOYM Award for economic, entrepreneurial accomplishment

oung entrepreneur Dato’ Johor but had since declared himself a Tan Kar Leong has done Sabahan. Sabah proud by winning His entrepreneur journey Yyet another national began about 13 years ago when he award – The 2014 Ten Outstanding ventured to , a few months after Young Malaysian Award (TOYM) graduating from Universiti Malaya – for the Business, Economic and/or with a Bachelor Degree in Business Entrepreneur accomplishment. Administration, to set up a bicycle shop Thirty candidates from all over through a partnership. the country were nominated under the During his visits to Australia various categories of the event organised and United States, he saw the Dollar by the Junior Chamber International Shop, a concept that proved to be the Malaysia (JCIM) and hosted by the golden egg for Tan. Junior Chamber International United He managed to convince the Penang on Nov 12. bank to give him a loan of B$80,000 Tan, 37, who runs Sabah- with the bicycle shop as collateral to based TCT Trading, was pitted with enable him to bring in a container load five others in the Business, Economic of items from China and sold it in and/or Entrepreneur accomplishment Brunei for B$1. category. It proved to be an instant hit “This is a very special and when all the products were sold out “We must have a dream and after meaningful award because it is a within days that he had to close shop that translate it into action. Many young personal award,” said Tan who received for about three weeks while waiting for people of today have dreams but not many his award from the Penang Head of the next container shipment to come in are really willing to make an effort to make State Tun Haji Abdul Rahman Abbas and replenish the stocks. their dreams come true,” at the glittering award presentation From one shop, his B$1 shops Tan Kar Leong, Director, TCT Trading ceremony. grew to 10 outlets and soon enough Tan’s company, TCT Trading, Brunei became smaller that he had good employer-employee relationship. had won several awards, namely the to look for new pasture that is Kota “We all go, about 100 of us to SME Rising Star Award 2008, Asia Kinabalu – where he opened up the see a movie together, we give workers a Pacific International Entrepreneur first RM2 Shop in Sinsuran commercial one-day paid leave during their birthday Excellence Award in the categories shoplots in 2002. and every month we give recognition to of Excellence Service Quality and Tan said Sabah has been good the worker of the month,” he said. Excellence Leadership in July 2009 and to him and he wanted to thank the The award, according to Tan, at the same year in October, TCT was Sabahans who have helped him a lot in also meant that he now has a bigger awarded the Golden Bull Award. growing his business. responsibility to shoulder. He had also Among the brands under Within a year, he opened joined the JCI Tanjung Aru where he TCT Trading just to name a few are another 12 outlets. The RM2 shops planned to be his platform to build an the One Stop Superstore, 24-hour were soon rebranded to One Stop orphanage. Orange Convenience Store, Century Superstore, which is offering products “My mother died when I was Supermarket, Homes and Leca. at a cheaper price. five, so I think I can understand the “I want to thank my parents “We buy in bulk direct from the feeling of those who have lost their and siblings for their never ending love factory so we are able to sell at a cheaper parents. This is the least that I can give and support as well as understanding. price. But this doesn’t mean the quality in return,” he said. Most importantly, my fellow staff at is compromise. That is why we have As for TCT Trading’s future TCT Trading for their strong support to a 30-day guarantee where customers plans, Tan said they are looking to me,” he said. could exchange the product if there is list the company over the next three Winning the award had further anything wrong with it,” he said. years through an initial public offering motivated Tan to encourage young As TCT Trading’s main (IPO), while at the end of this year, he people to venture into business. business, it has 128 One Stop Superstore would be opening the first One Stop “We must have a dream and outlets in the country with 63 of them Superstore in Ningbo, China as well as after that translate it into action. Many in Sabah, with gross revenue exceeding another 15 outlets in Malaysia. young people of today have dreams but RM150 million. Tan would represent Malaysia not many are really willing to make an His main priority, according to for the Ten Outstanding Young World effort to make their dreams come true,” him, is his staff. Award in Japan this year. he said. “To me the staff is the “This award, while it is “Don’t be discouraged by company’s main asset,” he said, adding priceless, is just the starting point for failure for failure is the mother of that the workers’ welfare, a healthy and me to work even harder,” he said. success,” said Tan who hailed from good working environment as well as Daily Express Malaysia 

12 Online Work: The Game-Changer for Asia’s Entrepreneurs by Nicolas Piccard, Asia Foundation

n exciting tech trend is of the population will work a few The top four highest-paying freelance reshaping Asian workforces. days a week without real job security. jobs on this platform are patent law, In countries like Bangladesh Oftentimes, industries cannot handle voice acting, ruby programming, and Awhere the economy is the rising costs of production, and startup consulting, but services run expanding alongside faster broadband the influx of foreign direct investment the gamut, with simpler jobs making speeds and mobile penetration, cannot keep up with the demand up the bulk of freelancer earnings. entrepreneurs and skilled workers for jobs; this is where fast-moving Task management and virtual office looking for employment are turning to and flexible eWork can play a part. assistance, blog post writing, and data online work, or eWork. A 2014 report In Pakistan, the online entry are opportunities within reach for on global online work by Elance-oDesk freelance economy has been credited any computer literate English-speaker. (a merger of two eWork “freelance” with providing new employment Samasource is a nonprofit platforms) measured over 8 million opportunities where there were that hires impoverished women and registered online freelancers and 2 none. Young IT and programming youth and provides them with careers million registered business clients on its professionals with the enterprising spirit in data work. These individuals two platforms combined. It is predicted to build their online brand are making are offered extensive training and a that in 2014, $930 million worth of a real living out of eWork, to the living wage, and deliver various data work will be completed on the platform. tune of more than $13 million spread service engagements for enterprise over 250,000 workers on Freelancer. clients. Business listing verifications, Flipping the employment paradigm com (another eWork platform) alone. writing product specifications, and eWork uses new technology transcribing data from captive PDF to expand opportunities in markets eWork Platforms: how do they work? files are all tasks that eWorkers can where employment is often in flux. Online offshoring of services complete with high accuracy. Since Asian economies benefit from a mass is rooted in traditional manufacturing 2008, Samasource’s 5,000 plus workers of educated young people, low labor outsourcing and is a close cousin of in Africa and South Asia have earned costs, and favorable or improving Business Process Outsourcing (BPO), a total of $3.1 million in direct wages business and economic environments. whereby a company contracts out and benefits – economic benefits In a recent assessment of the world’s key business functions (i.e., customer that also support their dependents. top-ranked countries for offshoring service call center) to foreign workers. The services that these and of services, Towers Watson, a leading Not surprisingly, the biggest players other platforms provide are attractive global professional services firm, are headquartered in the San Francisco to cash-strapped entrepreneurs in concluded that “the Asia-Pacific is the Bay Area in California, with internet- search of talent. The comparatively low top-ranked region, with eight of the top enabled eWorkers stationed worldwide, cost of global online workers and the 10 offshoring destinations.” China and ready to complete business tasks online flexibility of hiring on a per-task basis India remain the top two destinations ranging from document editing to data keeps operating costs low in places for services offshoring, but Vietnam, processing and application development. where running a business is not easy. Philippines, Indonesia, Thailand, Elance-oDesk is a private Entrepreneurs living in cities and Malaysia are not far behind. company that enables businesses stand to gain the most from eWork (due These countries are primed for to find, hire, and collaborate with to more reliable broadband connections growth but often suffer from substantial freelancers working at a distance and better access to education), underemployment, meaning that much from over 180 countries worldwide. Continued on next page

13 Ceylon Chamber invites young professionals to join Young Members Forum he Ceylon Chamber invites Currently the YMF has a sig- Members. young professionals to join nificant membership of the Young Once en- its ‘Young Members Forum’ corporate executives and emerg- rolled as a TThe Ceylon Chamber of ing entrepreneurs in the Country. m e m b e r , Commerce, the country’s premier The aim of this program, the Cham- business chamber has formed the is to reach a wider spectrum of in- ber will ‘Young Members Forum’, (YMF) in dividuals by providing individual f a c i l i t a t e a bid to identify, engage and develop membership to The Ceylon Cham- a common the next generation of Sri Lankan ber of Commerce (CCC) through p l a t f o r m leaders by providing an inspirational CCC - YMF to build strong rela- for the youth to interact, learn, growth opportunity for them through tionships that can be linked to the share knowledge and to develop various strategically driven programs. Chamber over the years. The CCC and grow together in their re- The YMF, which is ex- intends to make the most of its cur- spective domains which will be pected to be officially launched rent corporate membership to plan accepted by all stakeholders. shortly, is focusing on providing and integrate continuous programs The YMFs Primary tar- Leadership and Entrepreneurship de- to develop the YMF members. get is the 26% of the Sri Lankan velopment programs to its members. The Forum will encourage population, which falls into the This latest initiative by the entrepreneurship, create a knowledge age groups between 18 – 40 years. Chamber, which is in its 175th year in sharing culture, provide assistance to (Source: CBSL 2013 annual report) progress, is ventured upon as it was felt young professionals in relation to busi- If any interested party requires that there was a dearth in the ‘Next ness, employment, and training, create any assistance or clarification on YMF, Generation’ leaders in the country. networking opportunities with CCC please email [email protected]

Continued from page 9 could land lucrative freelancing job entrepreneurs that will help them take but the model can and should be contracts if broadband providers offered their businesses online, and provide adapted to rural dwellers and women high-speed internet facilities and cheap opportunities for them to diversify entrepreneurs living on the margins. bandwidth. Indeed, policy schemes such into eWork. As we look ahead into As the women’s entrepreneurship as “Digital Bangladesh” serve to define the digital “unknown,” it is important movement grows, eWork will offer a the role of technology in citizens’ social to champion those innovations smarter way for women to juggle the and economic lives, and lay the ground which provide the greatest potential dual demands of work and family, and for important public-private interactions for return and the lowest barriers help expand their ability to generate that increase the quality of infrastructure to entry for Asia’s entrepreneurs: income where gender discrimination and connectivity countrywide. eWork is definitely one to watch. and lack of opportunities in the Nicolas Picard is a program physical workplace has limited them. Building on the eWork sector associate for The Asia Foundation’s The eWork space is changing Economic Development Programs The role of governments in Asia fast and much remains to be done based in San Francisco. The views In the years ahead, facilitating in order to grow a borderless, and opinions expressed here are those the emergence of public-private instantaneous eMarketplace. Training of the individual authors and not partnerships around information and programs that explain the basics of necessarily those of The Asia Foundation. communication technology (ICT) creating an online worker profile and reforms will be important in those how to market one’s skills are necessary. The Confederation of Asia- countries set to experience an eWork Grameen Solutions just Pacific Chambers of Commerce boom. Policy-makers can play a strong launched an initiative to create 100,000 and Industry (CACCI) is a regional role by leading broad-based coalitions IT freelancers in Bangladesh over the grouping of apex national chambers around ICT infrastructure upgrades, next four years. This is a partnership of commerce and industry, business supporting a competitive environment with Coders Trust, a microfinance associations and business enterprises for internet service providers, and initiative backed by the Danish in Asia and the Western Pacific. setting funding aside for ICT skills government that supports students It is a non-governmental training. These policy issues are looking to upgrade their programming organization (NGO) serving as a increasingly given their own stage as skills through training. The Rockefeller forum for promoting the vital role of part of digital government strategies. Foundation is investing in a $100 businessmen in the region, increasing On the launch of Freelancer. million initiative called “Digital Jobs regional business interaction, and com in Thailand, a company Africa,” which will chip away at the enhancing regional economic growth. representative said the Ministry of unemployment problem for Africa’s Since its establishment in 1966, CACCI ICT Smart Thailand Master Plan bulging youth demographic by has grown into a network of national “will allow more professionals to catalyzing sustainable ICT employment chambers of commerce with a total now find work opportunities online.” opportunities and skills training. of 29 primary members from 27 Asian Reez Uddin Mosharraf, In Bangladesh, The Asia countries. CACCI is an NGO granted secretary general of Bangladesh Foundation is building on its consultative status, Roster category, Association of Call Centre and work in four geographic regions under the United Nations. Outsourcing, said that more students to expand ICT training for women

14 Unleashing Taiwan’s entrepreneurs by Anjie Zheng, The Wall Street Journal

“Home-grown innovators can tackle rising competition and shifts in global demand —if policy makers let them.” aiwan is stuck in a rut of supply parts for Apple’s new iPhone is once made Taiwan an attractive place slow growth, at least by East a rare bright spot, but economists worry to work, live, and exchange ideas is now Asian standards, with GDP it’s not sustainable. What happens flowing in the other direction. Add in Texpected to grow around 3% in years without an iPhone release? a declining birth rate, and the island this year. So how can the island revive One big barrier to indigenous starts to resemble neighboring Japan. the entrepreneurial spirit that created innovation is the problem of retaining Another challenge for Taiwan its once-booming technology industry? human capital. At Hsinchu Science is ensuring there are markets for its There are challenges from and Industrial Park, a government- products. Exports account for almost all sides. Competition from South sponsored community modeled after 70% of GDP, so it’s encouraging that Korea and China means tech firms Silicon Valley, it was an instrumental President Ma Ying-jeou has signaled here are not as profitable as they ingredient to its boom. Most of the Taiwan’s intent to join talks for the once were. Demand for PCs, 90% of nation’s top tech firms—including the Trans-Pacific Partnership (TPP) as which once originated from Taiwan, world’s largest semiconductor maker— soon as possible. The 12 current TPP has plummeted. On the mainland, trace their roots to this park and its members produce 40% of global where many firms have manufacturing neighboring Industrial Technology output. Remaining outside this group lines, wages are increasing. Research Institute (ITRI). Companies would pose an “existential threat Meanwhile Taiwan’s firms here supply the chips and other vital to Taiwan’s economy,” says Rupert struggle to foster the innovation that components that power most of the Hammond-Chambers, president of could allow them to move beyond world’s smartphones, laptops and tablets. the U.S.-Taiwan Business Council. making commoditized products. “Talented researchers,” May Yet Mr. Ma may not have Industry experts blame everything from Hsia, a research associate at the park, tells the political clout to push through Taiwan’s limited market share in software me, “was a major reason why Hsinchu ambitious reforms in the next two years development, an education system that became successful.” Around the time it before his term is up. Growing distrust doesn’t reward risk-taking, and even was established in 1980, many Taiwanese with his signature economic plan of the secretive manner in which tech were returning home with advanced detente with the mainland has sunk his companies contract out their services. degrees from foreign universities. approval ratings into the single-digits. Policy makers believe that That’s no longer the case. Real This spring, student-led protestors the key to future growth is Taiwan’s wages are lower now than they were 16 occupied the Legislative Yuan for three ability not just to innovate but to years ago and the best students prefer weeks to protest the ruling party’s commercialize its inventions and sell to work in more cosmopolitan world attempt to unilaterally pass a cross- them in international markets. But capitals where their talents are better Strait trade pact. The current political Taipei’s leaders have yet to articulate a rewarded. A recent survey by human mood means that accession to TPP will coherent plan that tackles the underlying resources firm ManpowerGroup probably not happen for several years. issues dogging tech companies. A found that 45% of Taiwanese firms In the meantime, what recent uptick in export orders off the face a shortage of talented workers. do Taiwan’s tech firms need? backs of Taiwanese firms contracted to The reverse brain drain that Continued on next page

15 Young entrepreneur groups invited to take part in YEGAP

he Young Entrepreneurs Group of Asia Pacific CACCI created the YEGAP to carry out an agenda and plan (YEGAP) is inviting CACCI members and of action for the purpose of encouraging more entrepreneurs chambers to enjoin their Young Entrepreneur from the region to take an active role in various sectors of TGroups to be a member of YEGAP. the society, and also in equal importance, in government, business and socio-economic sectors. About YEGAP We are confident then that the YEGAP will serve as YEGAP started from a simple goal, born of a clear an effective venue to implement suitable programs that are vision: to serve as a springboard for projects and activities available to young entrepreneurs in Asia Pacific. It is hoped geared towards entrepreneurial development among young that we will take advantage of this opportunity to achieve entrepreneurs in the Asia Pacific rim. global competitiveness. Through the years, CACCI has committed itself to transforming the Asia Pacific economy to one that is vibrant, Objective competitive and integrated to the world market. Crucial To promote a pro-enterprise spirit for young entrepreneurs to this commitment is the promotion and development among the Asia Pacific country members of CACCI of the entrepreneurship movement, particularly youth entrepreneurship, in each member country of CACCI. Agenda However, in view of the ever-changing global In order to promote a pro-enterprise spirit, there trends, the CACCI is fully aware of the critical challenges must be collaboration between enterprises, universities, that the sector is facing at present such as the lack of social corporations, and government. This collaboration shall management skills, inadequate marketing know-how, serve as the anchor for start-ups and business innovation. obsolete technology, underdeveloped labor force, and insufficient marketing tools. For more information on joining YEGAP, please In cognizance of these legitimate concerns, the contact the Secretariat at [email protected]

Continued from page 11 If policy makers want Park: although established by the Not more subsidies, according to Taiwanese manufacturers stationed government, the state’s hands-off Stephen Su, director general at ITRI, in the mainland to come home, they attitude allowed the park to succeed. but more freedom. “Private industry could relax labor laws on immigrants Business flourished because of private wants to make their own management from Southeast Asia to ensure there are investment and close partnerships choices. Most of the companies would workers available for the production lines. between manufacturers and researchers. not necessarily crave more financial Similar policies have been proposed Taiwan’s leaders win praise for support,” says Mr. Su. “They would in several new economic pilot zones. talking the right game. But innovation mostly ask for more deregulation Meant to free up capital, these zones also does not occur in a vacuum. It requires and foreign investment in Taiwan.” allow domestic universities to partner infrastructure, capital and labor, as well These include loosening with foreign schools. A dose of the as entrepreneurs who are unafraid to restrictions on assets held outside same medicine would benefit the nation fail and unencumbered by excessive the country, and making it easier for at large. There may be short-term pain regulations. If it lowers barriers to foreign investment to flow into Taiwan. from new competition, but Taiwanese labor and education, and gives small- Currently, red tape holds up private- companies will benefit from the and medium-sized firms more power equity investment and firms that increase in productivity in the long-run. to manage their own finances, Taiwan want to do business in Taiwan balk On the deregulation front, can build on its position at the heart of at the reams of paperwork involved. here’s a lesson from Hsinchu Science the world’s electronics supply chains. 

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