PETALING JAYA: The Malaysia External Trade Development Corp (Matrade) is encouraging Malaysian companies that are export-ready to leverage the business opportunities from the preparation works by France for Paris Olympics and Paralympics 2024, which is scheduled from July 26, 2024 to Aug 11, 2024.
The current areas of opportunities are seen in sectors such as information and communications technology; food & beverages; consulting in construction and professional services; security; transport; as well as event management and halal transformation.
The Olympic Delivery Authority, a key governance structure established by the French government, is responsible for organising this largest sports event in the world. They are tasked with delivering the Olympic & Paralympic venues as well as infrastructures and are also responsible to ensure the sustenance of these transformations post-Paris 2024, signaling continued opportunities even after the sporting event ends.
Matrade director of Europe and Americas Section Razida Hanim Abdul Razak said with this in mind, Malaysian companies must utilise the event as a stepping stone to accessing France, with the intent of maintaining their long-term footprint.
“In the previous Olympic Games in Tokyo, Malaysia was involved in facilitating the preparation of Japanese food outlets to be halal-ready. We hope this time around, we would be able to emulate this and even go beyond by offering support in other sectors. With the current challenging global economic landscape with disruptions in the supply chain as well as geopolitical issues, we think we can strengthen the Malaysia-France collaboration for mutual benefits through the Olympic and Paralympic Games in Paris,” Razida said in a statement today.
Overall, the value of tenders offered from the organisation of the Olympics and Paralympics 2024 stood at €5 billion (RM24 billion). Thus far, 25% of the contracts valued at €164.4 million (RM789.12 million) have been awarded to companies including small and medium enterprises from various economic segments.
Matrade’s Trade Commissioner in Frankfurt Zuhaila Sedek said it is pivotal for Malaysian companies to prepare themselves by adhering to the sectoral rules and regulations imposed by the European Union (EU).
“Although works on the Olympic Village have commenced, there are still pockets of opportunities for Malaysian companies through the tenders that are made available for all. We would suggest for Malaysian exporters work with a local partner in France due to the language barrier and for operational support. Hopefully, by having more Malaysian companies’ footprint in France, ultimately there will be more local companies who are EU-ready, which just means they are worldwide-ready too. This is timely too as Malaysia resumes talks on EU-Malaysia FTA.”
Paris 2024 Olympics and Paralympics are expected to generate €10.7 billion (RM51.36 billion) in economic benefits and create more than 250,000 jobs in the Ile-de-France region. The world-renowned event is expecting 9.7 million spectators and 4 billion viewers around the globe, offering an immense opportunity to brand Malaysia in the global arena.