Bangkok: The Malay Traders and Entrepreneurs Association of Malaysia (Perdasama) believes that global geopolitical tensions, including the standoff between the United States and Iran, could open new doors for local micro, small, and medium enterprises (MSMEs) in strategic sectors like renewable energy, logistics, and agro-food. Its president, Mohd Azamanizam Baharon, noted that uncertainty in the Middle East, particularly along the critical Strait of Hormuz shipping route, is set to disrupt global trade, as nearly 20 percent of the world's oil and gas supply traverses it daily.
According to BERNAMA News Agency, Mohd Azamanizam expressed that these developments are putting pressure on Malaysian MSMEs through rising operating costs, higher raw material and logistics expenses, and increased cost-of-living burdens, especially for businesses reliant on imported raw materials, international transport, and energy. Despite these challenges, Perdasama sees potential opportunities in strategic entrepreneurial sectors that local entrepreneurs should explore.
Mohd Azamanizam emphasized the need to strengthen new energy industries and local renewable energy sources due to the hike in global oil and gas prices amid geopolitical uncertainty. He suggested that MSME entrepreneurs should consider opportunities in solar energy, energy storage, energy efficiency technologies, and alternative energy solutions, as demand for these technologies is expected to rise with the global shift away from fossil fuels.
He also highlighted the importance of supply chain resilience, urging local entrepreneurs to engage in logistics, warehousing, supply chain management, transportation, and digital logistics technologies to bolster Malaysia's trade and supply capabilities. The agro-food and modern agriculture sectors were noted as having strong growth prospects amid global uncertainty.
Perdasama has called for stronger national economic policies to support the development of new energy, domestic logistics, and high-technology agro-food industries, equipping MSMEs to better navigate global economic uncertainties. Mohd Azamanizam stressed that modern agriculture and related industries should no longer be viewed as secondary economic sectors, citing examples from countries like the Netherlands, Australia, and New Zealand where high-technology agriculture significantly contributes to the national economy and global exports.
He concluded by stating that global crises require strategic thinking to build a more resilient economy, and with proper planning, local entrepreneurs have the potential to become key players in strategic sectors. Recent geopolitical tensions saw the United States and Israel launching attacks on Iran, which led to retaliatory actions, highlighting the urgency for strategic economic planning.