Kuala lumpur: Mid-tier companies (MTCs) are urged to invest in human capital apart from focusing solely on machines or technology to strengthen their global competitiveness, said the Malaysian Consortium of Mid-Tier Companies (MCMTC) honorary president Callum Chen.
According to BERNAMA News Agency, Chen emphasized that many companies are willing to invest millions of ringgit in equipment and systems but neglect talent development, which is crucial for sustainable growth. He pointed out that while companies focus on hardware and software, they often overlook the importance of investing in people, which hinders their ability to climb the value chain.
Chen noted the challenges MTCs will face if management does not believe in training or investing in people, ultimately impeding the progress of the companies. He highlighted the importance of looking beyond the top talent pool and nurturing the wider 90 percent of graduates who have potential but lack exposure.
Chen explained that multinational companies have already absorbed the top ten percent of new graduates, and MTCs can play a significant role by training and developing the remaining graduates. He also remarked on the resilience of many MTCs, especially those involved in exports, in adapting to economic crises.
However, Chen stressed the need for MTCs to align their operations with environmental, social, and governance (ESG) practices to stay competitive globally. He advised companies to be proactive rather than reactive regarding ESG compliance.
Discussing the National Export Awards (NEA), Chen stated that such recognitions provide a crucial benchmark for local exporters, particularly MTCs, to assess their global standing. He emphasized the importance of measuring performance to understand one’s competitive status internationally.
Meanwhile, the Malaysia External Trade Development Corporation (MATRADE) chief executive officer Datuk Sri Mohd Mustafa Abdul Aziz highlighted the NEA’s role in recognizing the excellence of Malaysian enterprises across various categories. He stated that the awards honor excellence from emerging SMEs to established large corporates, celebrating innovation and sustainability in global trade.
Mohd Mustafa affirmed MATRADE’s commitment to acting as the primary catalyst for Malaysian exporters, providing customized roadmaps, digitalization expertise, and global networking platforms to ensure their success as global champions. The NEA, set for December 5, will include seven best exporter award categories, such as Best Exporter – Large Companies, Best Exporter – Multinational Companies, and Best Exporter – Mid-Tier Companies.