SUBANG JAYA, – Local companies and entrepreneurs need to switch to a ‘Made by Malaysia’ business model, rather than ‘Made in Malaysia’.
The Minister of Entrepreneurship and Cooperative Development (KUSKOP), Steven Sim, said that the move is important to ensure that local companies and entrepreneurs remain competitive in the current increasingly challenging global economic environment.
“This is not because the shock itself wants to change from ‘Made in Malaysia’ to ‘Made by Malaysia’, but because of the global economic trend that sees us facing quite fierce competition, not only in this region but also with large economies.
“We are also faced with trade protection policies that are sometimes extreme, including the imposition of tariffs as well as rapid technological change and development. In this situation, Malaysian companies and entrepreneurs need to change,” he said.
