PETALING JAYA, May 9 (Bernama) -- The National Chamber of Commerce and Industry (NCCIM) has urged the government to diligently implement and execute all proposed policies and initiatives with clarity, uniformity and consistency.
Its president Tan Sri Soh Thian Lai said the government should also work with other jurisdictions to deepen international cooperation, address global vulnerabilities and promote multilateral trade.
He said the government needs to have a clear long-term policy concept, for example, the Progressive Wage Policy (PWP) and the Minimum Wage Policy.
"After the trial of 1,000 companies for the pilot implementation (PWP), will the government adopt this policy, and what are the criteria and measures to help small and medium-sized enterprises (SMEs)?
"What is the government stand on the minimum wage? And how would the SMEs survive as the current weak ringgit and increased cost of operations weigh on their businesses?," Soh told reporters at the National Economic Forum (NEF) 2024 themed “Strategic Innovation and Global Alliances: Propelling Malaysia to the Forefront of the Global Economy' here today.
In his opening remarks, Soh said the rapid pace of technological disruption, marked by advancements in artificial intelligence, automation and digitalisation, offers both avenues for enhanced efficiency and hurdles for traditional industries and labour markets.
He said research and development, cultivating an entrepreneurial culture and embracing emerging technologies can help business owners unlock their full potential and achieve sustainable, inclusive growth.
However, he said adopting technology and digital innovation has left businesses susceptible to cyberattacks.
"The interconnectedness of global markets exposes us to vulnerabilities stemming from external shocks and economic fluctuations.
"This underscores the urgency for innovative solutions and responsible resource management,” he added.
-- BERNAMA
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