PETALING JAYA: Local businesses facing a financial crunch don’t just need government help – fellow Malaysians can help them, too, and all the people have to do is choose Malaysian products and services.
However, these local firms must offer competitive prices, quality and reliability to win lasting consumer support, say stakeholders.
With lower prices and good reliability, buying local should become a practical choice for consumers, said Saravanan Thambirajah, chief executive officer of Federation of Malaysian Consumers Associations.
Saravanan said consumers could help strengthen micro, small and medium enterprises, sustain local jobs and retain more economic activity within the country by choosing local goods and services.
The government could also support MSMEs by introducing measures to reduce operating costs and improve productivity, he said.
Small and Medium Enterprises Association president Datuk William Ng said sustained domestic demand is the most meaningful support for MSMEs, beyond short-term government relief measures.
He said increased purchase of local goods and services would help circulate money within the domestic economy and support local payrolls, suppliers and community investment.
Greater local demand would also provide the scale for manufacturers to absorb higher input costs without raising retail prices, he said.
Like Saravanan, he said consumer loyalty cannot be treated as an entitlement or an act of charity.
“Local businesses must improve product quality, offer competitive prices, provide dependable after-sales service and build strong brands,” he said.
Universiti Tunku Abdul Rahman economics professor Wong Chin Yoong said buying local could retain and recycle capital within the domestic economy, creating spillover effects through payments to local workers, landlords and suppliers.
However, he said buy-local campaigns would only work when Malaysian products are genuinely competitive in value and quality.
Wong said any action against foreign e-commerce sellers should focus on ensuring a level playing field rather than limiting consumer choice.
He said overseas online vendors should comply with the same tax, regulatory, product safety and consumer protection standards as Malaysian businesses.
This would close loopholes that give foreign direct-shipping sellers an unfair cost advantage over local tax-paying firm.
