MITI Supports Young Entrepreneurs Through DEFA, ASEAN SME Academy
KUALA LUMPUR, June 28 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) is actively creating more space for young entrepreneurs to thrive, in line with Malaysia’s role as ASEAN chair, said Minister Tengku Datuk Seri Zafrul Abdul Aziz.
He said that through initiatives such as the ASEAN SME Academy and the Digital Economy Framework Agreement (DEFA), the ministry is breaking down barriers so that these entrepreneurs can start, scale, and connect their ventures beyond borders.
“DEFA, the world’s first regional digital economy treaty, is projected to grow ASEAN’s digital economy to over US$2 trillion by 2030 and generate millions of jobs. These are not just statistics; they are doorways to your future,” he said in his closing keynote address at the Nusantara Youth Forum 2025 held in Putrajaya today.
Tengku Zafrul said that as Malaysia opens doors for young entrepreneurs and innovators, it is important to mention how Malaysia’s own long-term strategies align with these regional ambitions.
“Through the New Industrial Master Plan 2030 (NIMP 2030), Malaysia is transforming our industrial landscape by focusing on high value-added sectors, advanced manufacturing, and future-oriented skills.
“NIMP’s core mission is to create quality jobs and ensure our industries — especially in electrical and electronics (and) green tech — remain globally competitive, resilient, and sustainable,” he said.
According to the minister, national frameworks such as NIMP are not just about Malaysia’s progress.
“They also complement ASEAN initiatives like DEFA and the ASEAN SME Academy, creating a seamless ecosystem that supports youth, from upskilling and financing to market access, so you can truly take your ideas from the region to the world,” he said.
Tengku Zafrul also gave recognition to arts and culture, saying that too often, the creative sector is wrongly treated as secondary to the “main economy.”
“The truth is, culture and creativity are economic engines, identity builders and bridges between nations,” he said, adding that ASEAN’s creative industries, from music to film, are gaining global attention.
The MITI Minister said he cannot overstate the importance of entrepreneurship in driving both economic progress and social transformation.
“Today, the most exciting businesses in Malaysia, and indeed throughout ASEAN, are being founded, led, and grown by youths.
“Whether you are developing tech solutions, running sustainable farms, designing innovative products, or launching platforms for social impact, you show the world what is possible when ambition is united with purpose,” he added.
-- BERNAMA