FMM: Greater openness in govt administration vital to achieve economic growth

Federation of Malaysian Manufacturers president Tan Sri Soh Thian Lai.

KUALA LUMPUR: Greater openness in government administration is vital to ensure public trust and collaboration towards achieving overall economic growth and well-being, said the Federation of Malaysian Manufacturers (FMM).

In a statement today, its president Tan Sri Soh Thian Lai said the federation also looks forward to the continued support and emphasis on competitive and sustainable value creation.

"A business-friendly regulatory environment with policies based on the four key principles of credibility, clarity, consistency and certainty would ensure the ease of doing business and keep industries competitive and sustainable, and continue growing.

"At the same time, institutional reforms with a continued focus on government administration efficiency and ensuring the highest level of integrity must be at the forefront of the government’s actions under the Madani concept,” he said.

Soh said the launch of Malaysia Madani concept by Prime Minister Datuk Seri Anwar Ibrahim on Thursday would promote an inclusive and holistic collaborative approach to development and the realisation of the responsibilities of the government and the people, including the business community.

"(This is) towards achieving economic development and well-being of the rakyat (by building) on the core values of sustainability, prosperity, innovation, respect, trust and compassion,” he added.

Soh said the main core principles of the Madani concept resonate with FMM particularly as the three core values of transparency, integrity and accountability are embedded in the federation’s work culture to ensure its members are globally competitive through continued commitment towards quality and service excellence.

He also said that innovation is key to supporting sustainable business practices and plays a pivotal role in laying the foundation of economic development and growth which spurs productivity, enhances competitiveness, and improves business and economic performance, which ultimately leads to the people’s well-being.

"At the same time, good governance and a business environment driven by transparency, integrity and accountability built on the core values of respect, trust and compassion are critical to support business growth and for the overall well-being of the rakyat,” he added. - Bernama