Austrade urges hi-tech companies to act now

Business Asia, May 31, 1999

Australian IT&T companies must push into Asian markets now if they hope to gain a long-term foothold, according to Austrade's senior trade commissioners.

Speaking at recent seminars in Sydney and Melbourne, the commissioners from Malaysia, Indonesia, Singapore, Thailand and the Philippines said Asia was ripe for trade opportunities.

However, time was running out to provide Year 2000 computer bug solutions.

Mr Michael Abrahams, the senior trade commissioner (STC) in Thailand, said short-term opportunities existed in Y2K solutions, but the best long-term prospects were in upgrading computer systems for the financial sector.

"Some of the opportunities include treasury systems, retail systems, home information, kiosk banking, smart cards, systems integration, debt recovery -- the list goes on and on," Mr Abrahams said.

Singapore STC Mrs Julie Bayliss said Singapore would be the key market for IT&T in Asia. She said of particular interest was the nation-wide broadband network, Singapore One, which aims to link all homes, schools and offices.

Ms Glenys Schuntner, the STC in Malaysia, said the key areas to target in Malaysia included battling the Y2K bug, developing e-commerce, application software, imaging technology and the Multimedia Super Corridor (MSC). She said Malaysia's shortage of skilled and qualified workers would also provide openings.

Indonesia STC Mr Bruce Wallace said while the market had changed drastically over the past 12 months, opportunities still existed in e-commerce, telecommunications privatisation, IT outsourcing and patents.

Mr Cameron MacMillan, based in Manila, said the government's new commitment to making the Philippines a "knowledge centre" by the year 2010 would translate into opportunities for Australia.