In a statement issued on Friday, FMM said the importance of manufacturing in economic development was crucial given the sector’s significant value-added contribution to our country’s GDP and total employment.
“As the voice of the Malaysian manufacturing sector, FMM looks forward to work alongside with the new government to strengthen our economy, especially in this disruptive age and Industry 4.0 era.
“Over the past few years, the manufacturing sector has been facing continual rising costs of doing business.
“One of the biggest challenges faced is the implementation of government policies without proper engagement with relevant stakeholders,” it said.
FMM said it had been actively voicing these concerns in various engagements with the government and through the media.
It also hoped that there will be a closer relationship between the public and private sectors to reduce regulatory burdens so that Malaysian industries can be more competitive in the global market.
FMM welcomed new initiatives to strengthen the governance and the economy.
“We pledge our support to work closely with the new government for a better and more prosperous Malaysia,” it said.
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