The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has urged the government to provide export credit schemes and reduce import duties on raw materials to help businesses cope with the potential impact of new trade policies implemented by major economies.
ACCCIM President Datuk Ng Yih Pyng said that the business community hopes the government will adopt pragmatic policies to support enterprises, especially small, medium, and micro-enterprises, in facing various challenges.
“Businesses need clear and consistent public policies, as maintaining pragmatic and progressive business-friendly policies is crucial to creating a safe and conducive environment for investors and businesses to thrive.”
He delivered his welcoming speech today at the ACCCIM's 2025 Chinese New Year Luncheon, also urging the government to provide more support to small and medium enterprises to explore new export markets and diversify supply chains.
“Malaysia's signing of the Comprehensive Economic Partnership Agreement (CEPA) with the UAE can serve as an important pathway to establishing more trade partnerships with Middle Eastern countries.
“Furthermore, our country's resumption of negotiations on the Malaysia-European Union Free Trade Agreement (MEUFTA) will further strengthen economic relations with the EU.”
Ng Yih Pyng said that ACCCIM hopes the government will gradually advance economic and subsidy reforms to avoid disruption to the market and businesses, particularly expressing concern over the proposed electricity tariff hike and foreign employee EPF compulsory contribution rate measures.
He expressed optimism about Malaysia's investment prospects and reiterated ACCCIM’s critical role in promoting economic cooperation and fostering business collaboration and network building between Malaysian and foreign enterprises.
He noted that preliminary results from ACCCIM’s Business and Economic Conditions Survey indicate a cautiously optimistic outlook, with over 33% of respondents expecting economic and business prospects to improve in 2025, a significant increase from less than 20% in 2024.