FMM In The News: BERNAMA, KUALA LUMPUR, Friday, January 27, 2023 - The recent proposal by the Minister of International Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz to position Malaysia as a strategic country and a quality investment destination, as a gateway to Southeast Asia, is not without merits, says the Federation of Malaysian Manufacturers (FMM).

It said this is because Malaysia is a small open economy, with a small domestic market, hence, its development focus has primarily been on the global markets, with particular focus on Asean.

“Asean has been essential to the regional supply chain since the Plaza Accord and Malaysia was, more often than not, the window to the dynamic Asean.

“Malaysia has one of the youngest and well-educated working populations in this region, long established as one of the most integrated economies in the world with the highest per capita total trade in Asean apart from Singapore,” president Tan Sri Soh Thian Lai said in a statement today.

Not to mention the stable macroeconomic and regulatory environment, it never gets old to position Malaysia as the gravity to Asean’s future, he said.

He said the federation opined that Malaysia could still be a springboard to offer new companies entry into the Asean market.

“Malaysia still has much capacity and potential to offer foreign investors. Not only is our infrastructure good, but our political environment is also stable and our banking system is sound.

“Malaysia also has all the necessary resources such as financing, manpower, security, business-friendly regulatory framework and a strategic location that is less prone to natural disasters,” he said.

He said although Malaysia never lacks development ideas and planning, the problem has always been, and still is, on implementation.

“This pertinent problem needs to be addressed,” he added.