Industry players urge new govt to address multiple challenges

Businesses and industry associations are looking forward to working together with new Prime Minister Anwar Ibrahim and his government to forge effective policies.

In a statement today, Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek Choon Yee said the plantation industry in Malaysia needs clear support and deserves recognition from the government.

“Especially its (the industry’s) sustained role in supporting the rural economy (with) its significant multiplying effects and sharing the prosperity with the nation and its people. 

“There is much work to be pursued to ensure the Malaysian palm oil industry can play its full role in supporting a strong economic recovery,” he said.

The National Tech Association of Malaysia (Pikom) said it hoped to see more digital technology collaboration which includes ascertaining policies to improve domestic capabilities, foreign direct investment, and talent in Malaysia.

The association said it also called on the new government to streamline the focus on the digital economy.

“At present, there is no one-stop ministry for the industry but rather various ministries are leading some efforts such as the Ministry of Communications and Multimedia, Ministry of Science, Technology and Innovation, Ministry of International Trade and Industry, Ministry of Finance, and the Prime Minister’s Department.

“Perhaps some functions overlap and may require a single ministry to provide focus,” it said in a separate statement.

Shipping industry

In another statement, the Malaysia Shipowners’ Association (Masa) chairperson Mohamed Safwan Othman said he hoped the maritime industry be given priority and support.

This, he said, is to shore up the amount of domestic flagged tonnage, financial incentive facilities, sustainable development of green technology, production, and services of the local marine industry.

He said the government, under the leadership of Anwar, is urged to encourage the involvement of government-linked companies (GLC) in the shipping industry development.

In a separate statement, the American Malaysian Chamber of Commerce (AMCHAM) said foreign investors and companies doing business in Malaysia were reassured that the country remained a preferred destination for growth and investment supported by robust and business-friendly government institutions.

“The American business community looks forward to the formation of a unity government that would focus on economic fundamentals and maintain a firm commitment to policies that bolster Malaysia’s business competitiveness and openness to global trade.

“To further bolster Malaysia’s competitiveness, a digitally-driven public services delivery that focuses on efficiency and productivity will drive more investments into Malaysia,” chief executive officer Siobhan Das said.

Meanwhile, Yayasan Usahawan Malaysia said the business community is looking forward to more economic stimulus measures, particularly for micro, small and medium enterprises (MSME).

Chairperson Nitesh Malani said among the immediate priorities of the government would be to assure the public and investors of political stability.

Hence, he said the foundation has urged the government to give urgent attention to managing inflation rates and strengthening the ringgit, table Budget 2023 before year-end, provide achievable and all-inclusive plans for MSME growth, form an economic advisory committee to give diversified inputs, and strengthen global and regional economic policies which position Malaysia as a key financial hub.

- Bernama

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