MEF WELCOMES GOVERNMENT’S TIMELY PUSH FOR STRONGER BUSINESS ECOSYSTEM

KUALA LUMPUR Feb 3 (Bernama) -- The Malaysian Employers Federation (MEF) said the government’s push for tougher rules, stronger enforcement and a more supportive business ecosystem is timely amid intensifying global competition on the domestic front.

In a statement today, MEF President Datuk Syed Hussain Syed Husman said the government’s initiatives reflect a strong commitment to supporting domestic micro, small and medium enterprises (MSMEs) while maintaining Malaysia’s position as an open economy.

He emphasised that MEF is not calling for blanket protectionism, but for a fair and well-enforced competitive environment.

The federation reaffirmed its support for strengthening local content policies, including prioritising Malaysian products and enterprises in public procurement, government-linked company (GLC) sourcing, and national supply chains.

“If Malaysian companies are not trusted and supported at home, they will never be competitive abroad. Domestic confidence is the foundation of global competitiveness,” he said.

MEF welcomed the Entrepreneur Development and Cooperatives Ministry’s focus on productivity enhancement, reduced bureaucracy, improved access to capital and expanded market opportunities.

Syed Hussain noted that many MSMEs have viable products, strong brands and loyal customers, but lack the financial headroom to scale.

The federation said it is committed to working with the government to build resilient, competitive and sustainable MSMEs, through stronger enforcement to ensure market fairness, accelerated digitalisation and automation, skills upgrading, workforce development, and deeper integration into domestic and export markets.

Entrepreneur Development and Cooperatives Minister Steven Sim was quoted in a news report today saying Malaysian businesses are struggling with rising foreign competition and higher costs of doing business amid global economic challenges.

He added that coordination with the Finance Ministry, financial institutions and economic agencies is being intensified to reduce bureaucratic bottlenecks and improve access to capital.

-- BERNAMA