‘Shared Prosperity’ in line with our aspirations — Federation of Malaysian Manufacturers

KUALA LUMPUR: The Federation of Malaysian Manufacturers (FMM) supports the government’s approach of ‘Shared Prosperity’ as it is in line with its call to address the threats of premature de-industrialisation besides supporting the industry’s technology transformation.

President Datuk Soh Thian Lai said FMM has been emphasising that the right policies should be in place to attract high-tech, high value-added production and investment as well as support existing investors to further spur economic activities and growth of the nation.

“This is to ensure that the sector remains relevant and competitive in the changing manufacturing landscape.

“Besides that, we are fully supportive of the initiatives to further enhance Malaysia’s TVET (technical and vocational education and training) system to grow the right talent pool to support the industry with the right skilled manpower in their transformation journey,” he said in a statement yesterday.

Soh said the manufacturing industry also constantly hopes for a conducive and business-friendly environment that is free of corrupt practices and that continues to attract more inflows of foreign and domestic direct investments.

“For the key pillar in improving the labour market, in particular higher wages, FMM believes that it can be made more complete by qualifying that remuneration should commensurate with productivity, good work attitude and discipline as well as commitment to high quality standards,” said Soh.