Past Events

Raising Business Confidence with Dr Muhammed Abdul Khalid

On 21 February, the BMCC held a Focus Talk on Raising Business Confidence with Dr Muhammed Abdul Khalid, Economic Advisor to the Malaysian Prime Minister.In his speech, Dr Muhammed spoke of the short term challenges currently looked into by the Government. This includes high cost of living amidst low purchasing power, job growth and the lack of coordinated messaging across the public sector. He emphasised that the people’s wellbeing is of the Government’s ultimate concern, and through progressive tax reforms and thoughtful policy implementation, the sustainable growth of businesses can lead to the nation’s economic and social betterment.

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.