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Listen to stakeholders, industry players tell Anwar's new cabinet

FMM In the News: NEW STRAITS TIMES, KUALA LUMPUR, Friday, December 2, 2022 - Industry leaders, in lauding Prime Minister Datuk Seri Anwar Ibrahim's new cabinet lineup, have pledged to work closer with the government to revive the country's economy.

Federation of Malaysian Manufacturers president Tan Sri Soh Thian Lai called on the new ministers to adhere to four key principles — credibility, clarity, consistency and certainty — in implementing the necessary policies to assist the recovery of businesses.  

FMM looks forward to the continued support for the manufacturing sector which has been the pillar of economic growth during the pandemic period.  

"Most importantly, a business-friendly regulatory environment is essential in ensuring the ease of doing business and to keep industries competitive and sustainable, and to continue growing during this critical period.  

"Focus must also be to ensure the highest level of integrity and efficient service delivery," Soh said in a statement today.   

Soh hoped the new government will focus on initiatives to spur trade and investment to generate more revenue and employment opportunities when it retables the 2023 Budget.

The new budget, he said, should also aim to lower the cost of doing business, restore investors' confidence, strengthen the capital market and ensure the ringgit's stability.

Additionally, Soh urged the new government to continue promoting TVET and STEM education to nurture a highly-skilled workforce to transform the manufacturing industry with more high technology and high value-added activities.

He said more initiatives to boost and expand trade opportunities are needed, including the promotion and support of "Buy Malaysian Products" in government procurements.

Meanwhile, Malaysian Employers Federation (MEF) president Datuk Dr Syed Hussain Syed Husman hoped the new cabinet would be more receptive towards the industry's views and feel the pulse of businesses and the people.

"It is important for the cabinet members to always listen to the views and needs of the stakeholders as well as be sensitive to what the stakeholders say.

"The ministers should be more action-oriented and always treat any issue (raised by the industry) with urgency," he said.

Syed Hussain added that ministers should also possess the necessary competence and experience in the portfolios that they were assigned to.

Earlier today, Anwar unveiled his new cabinet line-up that comprised two deputy prime ministers and 25 cabinet ministers.

Anwar himself will head the Finance Ministry while PKR vice-president and Pandan member of parliament Rafizi Ramli was appointed the economic affairs minister.

Meanwhile, former finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz has returned to the cabinet as the new international trade and industry minister.

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