FMM in The News: The Edge, March 2,2017
KUALA LUMPUR (March 2): The Malaysian Government should encourage the use of more locally-manufactured products for mega projects to boost domestic consumption, the Federation of Malaysian Manufacturers (FMM) said.
A joint survey by FMM and the Malaysian Institute of Economic Research (MIER) found that Malaysian manufacturers looked forward to more exports than local sales in 2017 after less-than-encouraging domestic consumption of local products in 2016.
FMM president Tan Sri Dr Lim Wee Chai said the "Government had heeded FMM's suggestions". Lim was speaking at a press conference in conjunction with the release of the FMM-MIER Business Conditions Survey results for the second half of 2016 (2H16).
The FMM-MIER Business Conditions Index on local sales expectation for 2H16 improved seven points to 87. During 1H16, the reading dropped 12 points to 87.
Today, FMM immediate former president Tan Sri Saw Choo Boon said both the 1H16 and 2H16 results were in the negative spectrum.
"The country did very well in the second half of last year. However, going forward, the overall tone of the industry is cautious at this moment, because of uncertainties with respect to local consumption.
"Government spending on local projects will solve the problem in this area. There should be certain conditions for foreign direct investments. They must have an understanding with local manufacturers to supply goods for the projects," Saw said.