Diplomat Today

Strengthening International Relations

PM Muhyiddin said, “Malaysia needs to produce critical products”

Malaysia critical products
Malaysia needs to have the capability to produce critical products, said Prime Minister Tan Sri Muhyiddin Yassin.
0 0
Read Time55 Second

Malaysia needs to have the capability to produce critical products, said Prime Minister Tan Sri Muhyiddin Yassin.

He said this covered the food and beverage sector, medical devices, medicines, petrochemicals, and personal protective equipment like gloves and face masks.

“When the country has this capability, we can reduce the outflow of the Malaysian currency and increase the export of local products,” he said when launching the national-level Mega Sales Programme and Buy Malaysian Products Campaign at Suria KLCC here today.

Therefore, the government is studying and review the existing policies to reduce dependence on imported products and give priority to building the capacity of local industries to produce made in Malaysia products, he added.

The world including Malaysia has been grappling with the challenge of weak economic growth in the wake of the coronavirus pandemic.

“Small and medium enterprises (SME), medium-size companies and multinationals have faced difficulties in terms of cash flow and loss of or drop in customers,” he added.

Muhyiddin said supply chains were also affected, especially for industries and the services sector which depend on raw materials, components and imports.

About Post Author

Diplomat Today

Diplomat Today is a signature magazine of Digital Business Media dedicated to bilateral relations, culture, tourism, trade, economic, special reports for International Business, diplomatic and current affairs, pertaining to relations between India and other countries. Diplomat Today magazine has evolved to become a trusted and ideal platform for sharing comprehensive data on the country specific, economic and policy matters, international relations, latest activities, current affairs and recent news between India and other countries. The magazine copy is available in digital and printed version.
Happy
Happy
0 %
Sad
Sad
0 %
Excited
Excited
0 %
Sleepy
Sleepy
0 %
Angry
Angry
0 %
Surprise
Surprise
0 %

About The Author