FMM: LOCAL PRODUCTS JUST AS GOOD
Enforcing ‘Buy Malaysian-Made’ directives will have multiplier benefits to economy
MALAYSIAN manufacturers have urged the government to be more consistent in its “Buy Malaysian-made” directives to boost domestic demand and curb unnecessary imports.
“By consuming more good quality Made-in-Malaysia products in mega-projects, the private sector and the government can bring about multiplier benefits to the economy,” said Federation of Malaysian Manufacturers (FMM) president Tan Sri Dr Lim Wee Chai.
“We are not advocating favouritism. Far from it. In fact, we urge consumers not to be prejudiced against Made-in-Malaysia products. As it is, there had been unfair instances when more expensive imported goods were favoured over local products even when they were as good in quality and competitively priced.
“All things being equal, if our products are good enough for the export market, they should also be good enough for local consumption,” said Lim.
FMM also urged the government to centralise its 24 ministries’ procurement directives on “Buy Malaysian-made”, which would result in significant multiplier benefits to the economy.
Lim said the Malaysian Investment Development Authority’s upcoming Specialised Building Materials Supply Chain Conference 2017, themed “Bridging Gaps, Building Opportunities”, was a step in the right direction and would significantly benefit the economy.
According to the Statistics Department, the manufacturing sector as a key economic driver contributed RM645.67 billion last year.
Manufacturing accounts for half of the country’s RM1.23 trillion economy and more than 80 per cent of RM785.93 billion total exports.
Lim was speaking after a briefing on the FMM-MIER’s second half of 2016 business conditions survey, here, yesterday.