Govt ensures economic reforms aligned with global benchmarks including ESG – Azmin

LUMPUR: The government has ensured that economic reforms are aligned with global benchmarks, including the environment, social and governance (ESG) goals.

Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the outcomes on this front will also reflect Malaysia’s commitment in facilitating investors, enhancing efficiency and improving the ease of doing business.

“It bears stressing that the agenda of defining Malaysia’s investment value proposition is encapsulated in our National Investment Aspiration (NIA), a forward-looking strategy aimed at attracting quality investments driven by innovation, hightechnology, green economy and greater inclusion of domestic supply chains,” he said in his remarks at the meeting between industry players and Prime Minister Tan Sri Muhyiddin Yassin yesterday.

Organised by the Ministry of International Trade and Industry (MITI), the initiative was timely as Malaysia progresses towards expedited economic recovery amidst a very challenging global economic landscape.

MITI said the meeting provided a conducive avenue for industry stakeholders to share on-theground issues, provide constructive suggestions to the government and discuss opportunities to help industry players reinvigorate their businesses that have been affected by the COVID-19 pandemic.

“The matters discussed at the session included the need to prioritise industry players who are regarded as the nation’s economic frontliners for the National Vaccination Programme; utilisation of economic stimulus packages introduced by the government as well as flexibility of financing mechanism and price control for the selected products/ industry, among others,” MITI said in a statement.

The meeting also discussed on manpower management and talent requirement; improved facilitations for new investments; swift ratification of the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP); and resumption of the Malaysia-EU Free Trade Agreement (MEUFTA) as well as the development of the new NIA.

During the session, the ministry said that attendees were also informed of the positive impact MITI’s Safe@Work Programme can bring to their businesses.

Moving forward, MITI said it will continue to join forces with other ministries and government agencies and most importantly with the industry players, to ensure Malaysia is well on its way to revitalise its economy post-pandemic. - Bernama