INDUSTRY PLAYERS URGE NEW GOVERNMENT TO ADDRESS MULTIPLE CHALLENGES, OPPORTUNITIES TOGETHER

KUALA LUMPUR, Nov 25 (Bernama) -- Businesses and industry associations are looking forward to work together with the new Prime Minister Datuk Seri Anwar Ibrahim and his government to address the challenges and opportunities towards forging effective and enabling policies which sustain the industry towards resilience in competitiveness, market access and sustainability.

In a statement today, the Malaysian Palm Oil Association (MPOA) chief executive Joseph Tek Choon Yee said the plantation industry in Malaysia needed clear support and deserving recognition from the government for its essential contributions to the nation.

“(This is) especially (that the industry has performed) its 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 that 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 between the new government and the industry, which included ascertaining policies to improve domestic capabilities, foreign direct investment and talent in Malaysia.

The association said it has also called upon 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 (these) may require a single ministry to provide focus,” it said in a separate statement.

In another statement, the Malaysia Shipowners’ Association (MASA) chairman Mohamed Safwan Othman said he hoped the maritime industry to continue to be given priority and support 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 the implementation of more significant economic stimulus measures, particularly micro, small and medium enterprises (MSME).

Chairman 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 the 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