BY: Michelle Liew
The Malaysia External Trade Development Corporation (MATRADE) encourages export-ready Malaysian companies to take advantage of the business opportunities that arise from the 2024 Paris Olympics and Paralympics.
In the previous Olympic Games in Tokyo, Malaysia was involved in facilitating the preparation by Japanese food chains for halal food, said MATRADE European and American Section Director Razida Hanim Abdul Razak in a statement yesterday.
“With the current challenging global economic landscape with disruptions in the supply chain and geopolitical issues, we think we can strengthen Malaysia-France cooperation for mutual benefit through the Olympic and
Paralympic Games in Paris,” she said.
Areas of opportunity in France are currently seen in sectors such as information and communication technology; food and drinks; consulting in construction and professional services, safety, transportation as well as event management and halal transformation.
MATRADE hopes this can be emulated and even better by offering support in other sectors.
The Olympic Games Presentation Board, the main governance structure established by the French government, is responsible for organizing the world’s largest sporting event, scheduled from July 26 to August 11, 2024.
It is responsible for providing sports venues and infrastructure. It is also responsible for ensuring this transformation continues after Paris 2024, indicating that opportunities continue even after the sporting event is over, according to MATRADE.
In total, the value of tenders offered from the 2024 Olympic and Paralympic Games amounted to € 5 billion (RM24 billion).
To date, 25% of the contracts worth € 164.4 million (RM789.12 million) have been awarded to companies including small and medium enterprises from various economic segments.
MATRADE Trade Commissioner in Frankfurt, Zuhaila Sedek said it was important for Malaysian companies to comply with sector regulations imposed by the European Union (EU).
She said although work on the Olympic Village had begun, there were still opportunities for Malaysian companies through tenders available to all.
“We will recommend to Malaysian exporters to work with local partners in France due to language barriers and for operational support.
“Hopefully, by having more Malaysian companies in France, there will be more local companies ready for the EU, which means they are also ready for the rest of the world,” she said.
The 2024 Paris Olympics and Paralympics are expected to generate economic benefits worth € 10.7 billion (RM51.36 billion) and create more than 250,000 jobs in the Ile-de-France region.
MATRADE said the world-leading event expects 9.7 million spectators and 4 billion spectators worldwide, offering a huge opportunity to brand Malaysia globally.
