MRCA WANTS TO BE INVOLVED IN DISCUSSIONS
Association hopes to meet Council of Eminent Persons over retail industry
THE Malaysia Retail Chain Association (MRCA) wants to be involved in discussions on the Sales and Services Tax (SST) and in charting the direction of the retail industry.
MRCA president Datuk Seri Garry Chua Kah Seng said the MRCA had more than 470 members involved in 30,000 retail outlets.
He said since Goods and Services Tax (GST) was zero-rated, the industry had seen robust sales but the projection needed to be reviewed after the implementation of the SST.
“The zero-rated GST has had a huge impact on the retail industry, with increased purchases among consumers. However, we still have to wait for SST implementation.
“Prices are expected to remain low but the government needs to involve us in the discussions. To date, the Council of Eminent Persons has yet to meet with us. The MRCA is expecting a meeting for the sake of the retail industry’s direction,” he said at a press conference, here, yesterday.
He also urged the government to reconsider its foreign worker policy, especially in the food and manufacturing sectors.
Chua projected the retail industry to grow four per cent this year.
“The zero-rated GST has played a significant role in increasing the retail industry sales.
“With digital retail initiatives in place, and as most of our members have switched to e-commerce, we can see a boost in sales.”
Chua said in line with MRCA’s cross-border retail plan, it expected the franchise industry to grow 30 per cent by 2020.
He also hopes to work with the tourism industry to bring in more foreign tourists.
“I have always emphasised the importance of the tourism industry to the retail sector.
“If there is an increase of one million foreign tourists, sales of the retail industry will also increase,” he added.