FMM Highlights Key Success Factors For Malaysia's New Manufacturing Era

KUALA LUMPUR, Jan 3 (Bernama) -- A clean and strong government as well as business and investment friendly ecosystem are among key success factors needed by Malaysia’s new manufacturing era, according to the Federation of Malaysian Manufacturers (FMM) said. Its president Soh Thian Lai said a clean and strong government are needed to fight corruption at all times and to prioritise economic development and rakyat’s well-being. “A strong, effective and efficient cabinet and administration which practises accountability and meritocracy would ensure a fair and level playing field, greater transparency and close public–private consultation and partnership,” he said in a statement Thursday. Soh said a friendly business and investment ecosystem would revitalise the manufacturing sector, helping new and existing investors to expand, upgrade and diversify through direct tax benefits, with more grants to support investments in technology and innovation, including Industry 4.0 technologies especially for small and medium enterprises. He added that a regular and meaningful consultation on government policies and procedures could minimise and alleviate rising costs of doing business. Another factor he said, is the focus on high tech and high-value production by facilitating and expediting access to the 2019 Budget initiatives and assistance to support Industry 4.0 technologies implementation, high-speed broadband subscription, innovation, productivity, skills upgrading and retraining. He said a buy Made-in-Malaysia campaign should also be launched expeditiously and monitored closely in government procurement and projects as well as promoted rigorously in domestic and overseas markets. He also called for early and fast implementation of free trade agreements, tightening enforcement on smuggling and counterfeits including strengthening intellectual property protection laws. Soh also urged FMM members to optimise the use of the appropriate government assistance programmes to implement firm-level initiatives, particularly in adopting Industry 4.0 technologies, skills upgrading and innovation. FMM members he said, need to leverage on market expansion and diversification programmes to support firm-level marketing development strategies and give industry feedback quickly to the federation on challenges it faced. “This is so that the government could be alerted and the relevant FMM working committees could work with the authorities in seeking appropriate solutions for industry-wide issues,” he added. -- BERNAMA