The PM’s Economic Advisor highlighted several sectors focused by the Government, including Tourism, Construction and Aerospace. He assured the Government is making positive progress towards revising incentive structures to focus on key sectors and to be more inclusive of industries that employ foreign labour. Further on incentivising, Dr. Muhammed dispelled myths regarding the Government’s funding of a third national car, however support through research grants will be provided to companies undertaking this initiative, especially in electric vehicles.
On measures to improve the economy and raising business confidence, Dr Muhammed spoke of the clampdown and intolerance towards corruption. He also addressed the concerns of canceled projects such as the ECRL, whereupon he noted these projects need to be revisited for commercial and economic viability. Regarding Brexit and its effect on Malaysia, he commented there will be ‘very little direct impact but indirect impact will be sizeable; though not as sizeable as China.’
Overall, Dr Muhammed urged attendees to remain positive towards our business outlook and that the Government; in the spirit of getting things right, is not seeking to rush policy and answers to stakeholders. Concluding his speech, he said “We hope, and we are very positive in the destination we’re heading towards. Maybe not as fast as we’d want, but we’ll get there.”
The event which was exclusive for BMCC members saw over 30 attendees present, taking part in an engaging Q&A session with Dr. Muhammed and a networking lunch thereafter.