PETALING JAYA: The International Entrepreneurs Chamber Malaysia (IECM) wants the government to set a clear policy and economic direction as investors and businesses seek clarity, consistency, and continuity, while maintaining a competitive and business-friendly environment.
Its president Badariah Badaruddin said that political stability was a variable of great importance in building a coherent and continuous path for sustainable development.
The uncertainty associated with an unstable political environment would undermine investor confidence, restrict investment, and slow the rate of economic progress even further, she said.
As a result, she believes that establishing a clear policy is of utmost importance.
"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 prior to implementation to ensure the feasibility of the policy," she said in her welcoming remarks during IECM's 5th Annual General Meeting here, 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, 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, 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 on addressing long-term issues," she added.
Badariah said IECM had 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 Datuk Seri 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 Oct 15 to 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 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