Venkat Raman –
Auckland based Taxation Expert, Barrister, Advisor to Malaysian government and Indian Newslink columnist Dave Ananth was the star attraction at a Seminar on ‘Business Opportunities in the Pacific,’ held in Kula Lumpur on June 26, 2016.
The Seminar was his initiative and his first engagement with Malaysian overseas investors after his appointment as the ‘Strategic Partner’ with a number of trade organisations in the South Pacific.
He was joined by Auckland based Registered Financial Advisor Deepak Ratti.
A number of potential Malaysian investors attended the event held at the premises of the
National Women Entrepreneurs of Malaysia.
SMEs evince interest
“Although many people are aware of the Pacific countries to some extent, they are not appraised of the developments occurring in the region, the immense potential and incentives that they offer for foreign investors and businesspersons to establish their presence in that region. A growing number of Small and Medium Enterprises in Kuala Lumpur have evinced interest. The Seminar aimed at providing updated information and the laws and business practices prevailing in the South Pacific,” he said.
Mr Ananth and Mr Ratti presented general information, tables, graphs and other statistical data about the Pacific using Vanuatu as an example.
“As a tax haven, Vanuatu attracts many foreign investors,” he said.
Mr Ananth said that a number of delegates to the Seminar were keen to explore the possibilities of providing power generators to the Pacific.
“Many businesspersons were also interested in setting up showrooms and their branches of their companies. I have asked them to provide details of their operations and their specific plans of engagement to discuss with the relevant authorities,” he said.
Furniture made from Rubberwood is popular in Malaysia and Indonesia, he added.
Mr Ratti outlined the system of taxation, available labour skills, travel and accommodation and other basic information.
“There are already queries about setting up tourism-related industries,” he said.
The two-hour Seminar included a Power Point Presentation prepared by Mr Ananth and Mr Ratti with the assistance of the Auckland based Pacific Trade and Invest Chief Operating Officer and Investments Head Manuel Valdez.
“I hope to connect investors and those interested in engaging in the South Pacific with the right people at the right locations, and work with the South Pacific governments, investment organisations and other interests,” he said.
As reported in our June 1, 2016 issue, Mr Ananth advocates of Free Trade and Free Commercial Zones as a part of the development plan in South Pacific.
“Foreign investors want a conducive working and trading environment. They also seek incentives, tax breaks, infrastructure and others benefits. Government of the Pacific should consider these basic requirements. After all, they create employment, boost local consumption and accrue income from taxes,” he said.
“Malaysian medical practitioners should consider joint ventures with their counterparts in these countries and expand health and pharmacy care,” he added.
Dave Ananth and Deepak Ratti at the Kuala Lumpur Seminar on June 26.