IECM advises govt to set clear policy, economic direction

Updated 3 hours ago ·
Published on 30 Dec 2023 10:03PM ·

IECM president Badariah Badaruddin hopes the Madani Economy announced by Prime Minister Anwar Ibrahim create meaningful job opportunities, ensures equal opportunities, and establishes a social protection network for all. – Facebook pic, December 30, 2023

THE president of the International Entrepreneurs Chamber Malaysia (IECM), Badariah Badaruddin, has called on the government to establish a clear policy and economic direction. Investors and businesses seek clarity, consistency, and continuity, along with a competitive and business-friendly environment.

Badariah emphasised that political stability is crucial in shaping a coherent and continuous path for sustainable development.

The uncertainty associated with an unstable political environment would determine the investors’ confidence, reduce investment, and further hinder the pace of economic development. Thus, setting such a clear policy is of utmost importance, she said.

“The government agencies must be responsive to radical changes and come up with new solutions to make Malaysia a progressive and competitive nation.

“More importantly, the current government should engage the stakeholders in dialogues as well as discussions between the public and private sectors before implementation to ensure the feasibility of the policy,” she said in her welcoming remarks during IECM’s 5th annual general meeting in Petaling Jaya today.

IECM would also continue to make suggestions to the government to enhance the public and private partnership to implement the economic recovery plan effectively, and adopt more measures for long-term growth and sustainable development in the next national budget, she shared.

“National unity is a key force to propel our country forward. The government should continue to practise pluralism and strengthen national unity and racial harmony to safeguard the well-being of the people.

“In this regard, political leaders should put the country and rakyat’s interests ahead of anything while the government and technocrats should focus addressing on long-term issues,” she added.

Badariah said IECM has the utmost confidence in the government’s ability to contain the Covid-19 pandemic until today and would provide the government unrelenting support in whatever form to counteract the temporary economic disruptions.

“As always we would continue to engage with the ministers, deputy ministers and government agencies towards ensuring a steady economic growth and business expansion ahead.”

On the latest framework announced by Prime Minister Anwar Ibrahim, which aims at boosting the economy and providing revenue spillover to the people, Badariah hopes the Madani Economy structural reforms will create meaningful job opportunities, ensure equal opportunities, and establish a social protection network for all.

“We take note that with the current government, immediate reforms to the structure, systems, and institutions are necessary, as these would drive Malaysia to achieve its desired goals.”

Meanwhile, IECM will be organising the IECM Regional Business Networking Forum on Entrepreneurship Development 2024 on October 15-16 at the World Trade Centre Kuala Lumpur.

“We are trying to get in touch with as many entrepreneurs as possible from Malaysia and foreign countries. This event is supported by Malaysian government agencies such as Malaysia External Trade Development Corporation, SME Corp, Halal Development Corporation Bhd, Credit Counselling and Debt Management Agency, and Majlis Amanah Rakyat,” she said. – Bernama, December 30, 2023

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