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SeBright Chen, the founding chairman and CEO of Summer Atlantic Capital, was invited to participate in the Horasis Global Conference on June 8th this year. This conference is one of the most important annual meetings for key decision makers in business, government and civil society organizations around the world.
The topic of discussion which Mr. Chen participated was "Cooperating while Developing National Competitiveness". The discussion prompt as well as the participants of the "National Competitiveness" Parallel Session are as follows:
All nations pursue competitive traits, and have distinguished innovators – though many are not recognized on the international stage. They differ in their ability to compete in the international arena. How can nations manage their competencies to achieve long-term growth, generate jobs and increase welfare? Is there a link between competitiveness and inequality that could be enhanced to benefit the poor nations?
(Screenshot of the meeting)
Mr. Chen believes that time is critical and it is necessary to simplify the investment process and then create an environment which encourages and fosters innovation.
At the government and policy level, from foreign incorporation to foreign investment to the principles and guidelines of cooperation with important domestic enterprises, the procedures and processes of innovative enterprises and foreign-funded enterprises should be simplified. Additionally, trade protection should be minimised in order to be more market-oriented and effectively improve the competition of local enterprises force.
At the industry level, local standards should be integrated with international standards to reduce the time and difficulty for innovative enterprises and foreign-funded enterprises to obtain market access permits/licenses and necessary certificates.
In this way, the time requirements of corporate strategic development can be better met, allowing each country to become a leader in Intellectual Property (IP) protection and adapt to international standards. With countries being increasingly open in different fields and increased cooperations between countries, international trust can be built, which is of vital importance to the country.
As to how poor countries can benefit, their industry structures are different after all. Some key enterprises and industry leaders can be created in poor countries to form a leader effect, which will help lead the industry forward.