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FMM PRESS STATEMENT - Industry Congratulates YAB Dato’ Seri Anwar bin Ibrahim on Appointment as 10th Prime Minister of Malaysia

Kuala Lumpur, November 24, 2022 – The Federation of Malaysian Manufacturers (FMM) congratulates YAB Dato’ Seri Anwar bin Ibrahim on his appointment as the tenth Prime Minister of Malaysia. FMM will continue to give our fullest support and co-operation to the government of the day. The business community looks forward to the able and competent leadership of YAB Dato’ Seri and his soon to-be-formed Cabinet to steer the Malaysia’s economy and in particular the business sector to the road of recovery from the Covid-19 pandemic and the current global economic challenges. We look forward to the expeditious formation of the Cabinet to ensure that all necessary measures and policies are put in place quickly including Budget 2023 to assist the economic sectors and the rakyat in this challenging period.

FMM looks forward to the continued support and emphasis on competitive and sustainable value creation and economic growth through manufacturing activities which has been the pillar of economic growth especially during the pandemic period. A business-friendly regulatory environment would ensure the ease of doing business and keep industries competitive and sustainable, and to continue growing. This can only be achieved if policies and regulations are simple, more transparent, reliable, easy to comply, consistent and fair. 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.

Moving forward, it is important for the Government to strengthen the economic fundamentals including lowering the cost of doing business which is a major obstacle to business recovery. Fundamental to the business community is the need to restore the confidence level of both foreign and domestic investors by focusing on the right policies, strengthening the capital market and ensuring the stability of the Ringgit. Institutional reforms are also key to economic recovery with continued focus on government administration efficiency and ensuring the highest level of integrity. It is also crucial to improve the wellbeing of the people by focusing on enhancing their purchasing power and lowering the cost of living.

Towards this end, FMM pledges to work closely alongside with the new Cabinet to help further revive the Malaysian economy from the global headwinds and for industries to return to a competitive position in the global market as well as for Malaysia to continue to be a favoured investment destination.


Tan Sri Dato’ Soh Thian Lai
President, Federation of Malaysian Manufacturers

FMM Advocates Transparency, Integrity and No Corruption

About FMM

The Federation of Malaysian Manufacturers (FMM) has been the voice of the Malaysian manufacturing sector since 1968. Representing over 11,500 member companies (3,500 direct and 8,000 indirect) from the manufacturing supply chain, FMM is actively engaged with government and its key agencies at Federal, State and local levels. FMM is also well-linked with international organisations, Malaysian businesses and civil society. Apart from benefitting from FMM’s advocacy, FMM members enjoy value-add services, including training, business networking and trade opportunities as well as regular information updates.

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