Malaysian companies must invest in branding to meet international standards as part of moving up the value chain to ensure their profitability and survival amid intensifying competition in global market, says Minister of Domestic Trade, Cooperative and Consumerism, Datuk Seri Ismail Sabri Yaakob.

This would make Malaysia more competitive and offered the country the quantum leap needed to become a developed nation, he said.

To gain market positioning, companies, especially small and medium enterprises, must undergo transition from price competition to branding in the domestic market.

"Over time, the brand will be able to undergo the routes towards globalisation (of the brands)," he said in his speech at the Branding Association of Malaysia's executive committee 2012-2015 installation ceremony today.

His speech was delivered by the ministry's Deputy Secretary-General, Consumerism and Management, Datin Mahani Tan Abdullah.

Ismail Sabri said even with the country's expanding economy and premier position in global trade, there are too few truly world class and internationally recognised Malaysian brands.

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