THE boycott of Israel-linked brands has opened up opportunities for local businesses to flourish, says the Domestic Trade and Cost of Living Ministry.
Minister Datuk Armizan Ali said the boycott movement has helped increase demand for homegrown products, while enhancing innovation and fortifying the local economy.
“However, these local companies must ensure that they fulfil the expected standards of quality and competitive prices to maintain support from consumers for the long term,” he said in a written reply to Datuk Rosol Wahid (PN-Hulu Terengganu).
Rosol had asked the ministry to state the extent of the impact of the boycott movement on brands associated with Israel, across various business sectors.
Armizan also said that as consumers were staying away from brands linked to Israel, they tended to find alternatives among local names.
“These opportunities can be utilised by local entrepreneurs to introduce their brands to consumers.
“With an increase in demand for local goods, there are also incentives for local businesses to invest in research and development to produce more competitive products,” he added.
He also said at least 30 local micro, small and medium enterprises have registered with his ministry for its Beli Barangan Malaysia (Buy Malaysian Goods) campaign.
“This will not only create healthy market competition but help create jobs and strengthen the microeconomy,” Armizan added.
