GEORGE TOWN: The Federation of Malaysian Manufacturers (FMM) expressed hopes that the government would continue to support the manufacturing industry by improving the ease of doing business by simplifying bureaucratic procedures and reducing regulatory burdens for industrial players.
FMM Penang chairman Datuk Lee Teong Li hoped that during the tabling of the Budget 2024, both the state and federal governments would standardise the discount for all industries, enterprises, and commercial sectors to renew their leasehold land at 90 per cent
He said this initiative would significantly improve the ease of doing business in Malaysia.
Other than that, FMM Penang also hoped the government would allocate more funding for small and medium-sized industries (SMIs) and small and medium-sized enterprises (SMEs) so that they can undertake or upgrade digitalisation initiatives.
“We urge the government to increase the limit of the SME digitalisation grant scheme whereby currently, companies in Malaysia can receive government subsidies of 50 per cent or up to a maximum of RM5,000,” he said in his speech at the FMM 54th Anniversary Dinner here last night.
Also present at the dinner was Yang Dipertua Negeri of Penang Tun Ahmad Fuzi Abdul Razak and Chief Minister Chow Kon Yeow.
Meanwhile, FMM president Tan Sri Soh Thian Lai said the establishment of a Penang branch Special Task Force to Facilitate Business or Pemudah (Pasukan Petugas Khas Pemudahcara Perniagaan) would be able to address all of these issues effectively.
“I hope that the state government and local councils, in collaboration with our FMM Penang, will consider establishing Pemudah Penang to facilitate ease of doing business as well as keep the cost of regulatory compliance down for the business community,” he said.
Soh said he also hoped the government would continuously facilitate the implementation of the Industrial Linkage Programme (ILP).
“As 75 per cent of our members are SMEs, we have been actively involved in promoting and developing SMEs by strategically collaborating with the Malaysian Investment Development Authority to implement the ILP.
“The ILP was initiated to help our SME members explore business opportunities in the global supply chain to create a pool of suppliers who can generate or add value to the economy,” he said.
Soh said that since the launch of ILP in 2021, it has successfully secured 22 anchor companies and 196 supplier companies, while the recent ILP programme, which was held in Penang on June 21, 2023, was attended by 11 anchor companies and 50 SMEs. – BERNAMA
