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FMM In The News: BERNAMA, KUALA LUMPUR, August 14, 2023 - The Federation of Malaysian Manufacturers (FMM) has urged the government to set up a Madani council and an inter-ministry and private sector joint steering committee to enhance stronger collaboration and a shared sense of responsibility among the private and public sector and stakeholders.

President Tan Sri Soh Thian Lai said the move would help align the country's efforts with Madani values championed by Prime Minister Datuk Seri Anwar Ibrahim and ensure proper coordination of all strategies and achieving key performance indicators and action plans.

With the conclusion of the recent state elections, FMM is looking forward to the continued support and emphasis from the federal and state governments on competitiveness and sustainable value creation, especially via manufacturing activities identified as the country's engine of new growth under the Madani Economy framework.

"Political stability and policy certainty remain key considerations for both foreign and domestic investors.

"We call on the new line-up of state executive councillors to strengthen their support for the business sector with renewed pro-business policies to boost investors' confidence, which is key for businesses to excel;' he said in a statement today.

Soh said it is important for the current government to complete its five-year term with a result and mission-oriented approach and stay focused on economic recovery and the right policies by strengthening the economic fundamentals, including lowering the cost of doing business.

Additionally, he said the business community also needs a business-friendly regulatory environment to keep industries competitive and sustainable and to continue growing.

"It is therefore imperative that all policies and measures implemented towards further aiding the recovery of businesses and revival of the economy are based on four key policy principles of credibility, clarity, consistency and certainty," he added.


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