{"id":30744,"date":"2025-06-22T03:06:18","date_gmt":"2025-06-22T03:06:18","guid":{"rendered":"https:\/\/sabahnewstoday.net\/?p=30744"},"modified":"2025-06-22T03:06:18","modified_gmt":"2025-06-22T03:06:18","slug":"iran-israel-conflict-entrepreneurs-need-to-be-prepared-nordin","status":"publish","type":"post","link":"https:\/\/sabahnewstoday.com.my\/en\/iran-israel-conflict-entrepreneurs-need-to-be-prepared-nordin\/","title":{"rendered":"Iran-Israel Conflict: Entrepreneurs Need to Be Prepared – Nordin"},"content":{"rendered":"

KOTA KINABALU : The ongoing tensions between Iran and Israel, which are now at risk of erupting into a full-scale conflict, are causing concern among industry players and economic analysts.<\/span><\/p>\n

The President of the Asean Chamber of Commerce & Industry (ACCI) Sabah Chapter, Datuk Nordin Ening, said that this development could have a knock-on effect on global economic stability and affect local businesses involved in international markets.<\/span><\/p>\n

\u201cThis conflict is not just a foreign political issue. It also has a direct impact on world oil prices, currency exchange rates, supply chains and global shipping costs.<\/span><\/p>\n

\u201cMalaysian entrepreneurs, especially in Sabah who depend on imports and exports, need to be more prepared,\u201d he said when asked to comment on the development.<\/span><\/p>\n

Nordin said he suggested that entrepreneurs start re-evaluating their strategies including aspects of geopolitical risk management, market diversification and building business resilience against any global uncertainties.<\/span><\/p>\n

\u201cA smart entrepreneur does not only depend on one source of market or trade route. In this increasingly uncertain world.<\/span><\/p>\n

\u201cWe need to have contingency and alternative plans, including strengthening regional markets such as ASEAN,\u201d he explained.<\/span><\/p>\n

According to him, the government is also advised to play a more active role by channeling current information, financial support and technical assistance to industry players who may be directly affected.<\/span><\/p>\n

\u201cWe need an economic response mechanism to foreign conflicts.<\/span><\/p>\n

\u201cA comprehensive framework must be established so that the national economy can continue to survive in the event of any unexpected shocks,\u201d he said.<\/span><\/p>\n

He also stressed the need to strengthen economic cooperation between ASEAN countries so that the region is not too exposed to turmoil in the Middle East or the world’s superpowers.<\/span><\/p>\n

\u201cWe cannot move alone in facing global challenges like this. ASEAN needs to act as a united and mutually supportive economic bloc,\u201d he said.<\/span><\/p>\n

He added that this threat should also be seen as an opportunity to accelerate the agenda of domestic economic empowerment and reduce dependence on foreign markets.<\/span><\/p>\n

\u201cCrisis often creates space for innovation. Entrepreneurs need to dare to change and take steps forward so that their businesses continue to survive in any situation,\u201d he added.<\/span><\/p>\n

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