Moslem entrepreneurs launch institute

CIANJUR, West Java: The Southeast Asian Moslem Entrepreneurs Cooperation Institute (SEAMECO) was launched here over the weekend by several Moslem businessmen from countries in the region, Antara reported yesterday.

Executive director of SEAMECO, Mahd. Hatta bin H Zainal Abidin of Brunei Darussalam, said the institute was created to help prepare Moslem entrepreneurs in Southeast Asia to deal with the challenges in the liberalized trade era.

He said that despite their huge potential, Southeast Asian Moslem entrepreneurs play a minor role in the region's economic activities because of limited capital and human resources.

"The institute will foster cooperation among members, particularly in export-import activities, including marketing and investment," he said.

Abidin said SEAMECO members have agreed that for any joint project, 50 percent of its earnings will go toward programs that aim to improve the welfare of Moslem communities.

SEAMECO's executive board members include Sudrajat DP, Muhrim Hakim and Arif Nastim of Indonesia, Mahd. Ramli bin H Mohammad of Malaysia and Karim L. Panumpang of the Philippines.