DUBAI: Malaysian companies must be prepared to sink in substantial investments, run the risks and ride the challenges if they want to succeed in penetrating the lucrative Middle-East market, said Seven Seas Computers LLC strategy and intellectual assets director Mehboob Hamza.
Mehboob, at a networking session organised by Multimedia Development Corp (MDeC) told Multimedia Super Corridor (MSC) companies “it is very important for Malaysian firms to get their business model right in order to penetrate the market here.”
“Companies need to make sure they understand the rules of the game, and what it takes to influence and penetrate the market. They also need to understand the level of skill and experience of local players needed to form partnerships with,” he cautioned MSC companies during the Gulf Information Technology Exhibition 2006.
Mehboob said he had witnessed several Singaporean and Malaysian companies closing down their Middle Eastern offices recently due to lack of experience in dealing with the market.
Aside from a correct business model, he added that Malaysian companies had to have sufficient start-up capital to sustain operations for at least 12 to 20 months, as they learnt about the business and what it took to become a success.
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