GEORGE TOWN, Aug 25 — The Federation of Malaysian Manufacturers (FMM) expressed hopes the government can facilitate business by simplifying bureaucratic procedures and reducing regulatory burdens for industry players.
FMM Penang chairman Datuk Lee Teong Li said he hopes during Budget 2024’s tabling, the state and federal governments can standardise discounts for all sectors to renew their leasehold land at 90 per cent.
He said this initiative would significantly improve the ease of doing business in Malaysia.
FMM Penang also hopes the government can allocate more funding for small and medium industries and small and medium enterprises (SMEs) so they can undertake or upgrade digitalisation initiatives.
“We urge the government to increase the limit of the SME digitalisation grant scheme. Currently, companies in Malaysia can receive government subsidies of 50 per cent or up to a maximum of RM5,000,” he said in his speech at the FMM 54th Anniversary Dinner here last night.
Also present at the dinner was Penang’s Yang Dipertua Negeri Tun Ahmad Fuzi Abdul Razak and Chief Minister Chow Kon Yeow.
FMM president Tan Sri Soh Thian Lai said the establishment of a Penang branch Special Task Force to Facilitate Business (Pemudah) would be able to address these issues effectively.
“I hope the state government and local councils, in collaboration with FMM Penang, will consider establishing Pemudah Penang to facilitate business as well as keep the cost of regulatory compliance down for the business community,” he said.
Soh said he also hopes the government will continuously facilitate the implementation of the Industrial Linkage Programme (ILP).
“As 75 per cent of our members are SMEs, we have been actively involved in promoting and developing SMEs by strategically collaborating with the Malaysian Investment Development Authority to implement the ILP.
“The ILP was initiated to help our SME members explore business opportunities in the global supply chain to create a pool of suppliers who can generate or add value to the economy,” he said.
Soh said since the launch of ILP in 2021, it has successfully secured 22 anchor companies and 196 supplier companies, while the recent ILP programme, which was held in Penang on June 21, 2023, was attended by 11 anchor companies and 50 SMEs.
— Bernama
