MITI Dialogue Session with Industry on Budget 2025

The BMCC recently attended a Dialogue Session with the Ministry of Investment, Trade, and Industry to discuss the National Budget 2025, themed ‘Ekonomi Madani Memperkasa Rakyat,’ and focused on enhancing Malaysia’s global competitiveness and inclusivity.

The session focused on two primary agendas. The first was on ‘raising the ceiling’, which involved positioning Malaysia as a prime investment destination by leveraging its strengths primarily focusing on Islamic financing and investments. This strategic move aims to attract a diverse range of investors and enhance the nation’s global standing.

The agenda of ‘raising the floor’ centred on promoting inclusivity and equitable opportunities for all citizens. This includes ensuring access to healthcare, education, and social security, fostering a spirit of unity, and maintaining good governance. These efforts are essential in creating a stable and prosperous environment.

In support of these goals, the BMCC provided policy input, which was submitted to MITI for consideration in the National Budget. The policy recommendations align with the goals of BMCC members across various committees and networks, particularly focusing on improving market access and developing local talents.

During the session, key stakeholders raised significant concerns about Malaysia’s economic landscape.

• Assessing Governance: They highlighted the need to increase the minimum wage and address extended working hours. The rising cost of doing business, which has become unsustainable, requires careful management, particularly regarding the impact of foreign workers on local employment opportunities.
• Improving Infrastructure: There is a strong focus on enhancing infrastructure, particularly in digital and green technologies, to strengthen Malaysia’s global competitiveness and reduce its carbon footprint.
• Upskill Talent: Developing the workforce through vocational training and youth programmes was also emphasised as essential for maintaining a skilled and competitive labour force.
• Digital Development: Opportunities in digital infrastructure are seen as vital for positioning Malaysia as a leading digital nation, with investments in 5G technology to expand digital access and capabilities.

Addressing these diverse concerns and opportunities will be crucial in empowering the people and building a robust, inclusive, and competitive economy.

The BMCC is prepared to assist our members and stakeholders in presenting issues and concerns for MITI’s consideration. To get in touch, please contact Yoong@bmcc.org.my