Malaysia’s bolstered policies key to speed up industry transformation
- Claire Lee
- Topics: Home Page - News, Malaysia, News, Restructuring
Malaysia’s efforts to boost its productivity and competitiveness by enhancing policy and business governance initiatives can speed up industry transformation, said the Malaysia Productivity Corporation (MPC).
“To achieve this objective, a conducive business environment needs to be strengthened to spur productivity and the nation’s competitiveness,” highlighted the MPC in a statement.
The measures undertaken by the government to that end include the setting up of a dedicated fund of up to RM$2 billion (US$0.48 billion) to attract strategic foreign investments by multinational companies that drive knowledge-based jobs creation and development opportunities for local SMEs, complementing industry value chains, according to Bernama.
“As the secretariat of the Special Taskforce to Facilitate Business (PEMUDAH), the MPC will provide inputs and suggestions in improving the quality of policies and the government’s regulations,” it said.
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MPC added that the proposed Budget 2022 is an “inclusive, sustainable and balanced” budget.
To support Malaysia’s economic recovery, the government has allocated RM$25 million (US$6 million) under the budget to explore high impact investments and new export markets.
