ACCCIM welcomes formation of the new government, to boost business confidence, investment and economic growth
24 Nov 2022
The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has urged political partisan divides to close ranks, making compromises and working together to maintain the stability of the nation.
The chamber has welcomed the formation of the new government, which will provide much needed stability and certainty.
“Businesses and investors had feared that a prolonged hung Parliament and unstable coalitions, with the uncertainty it would have brought for business confidence, investment and economic growth.
“Maintaining political stability is one of the most essential pre-conditions for economic prosperity as well as to safeguard business and market confidence,” it said in a statement.
ACCCIM president Tan Sri Datuk Low Kian Chuan asserted that in a multi-ethnic country, an inclusive government is the key foundation to establish a united Bangsa Malaysia living in harmony and unification.
Low said Malaysia’s progressive and moderate government as well as creating a conducive business environment and investment climate are the most important ingredients to increase economic growth and drive higher investment.
“On our part, the business community stands ready to work with the new government to deliver prosperity, jobs and sustained economic growth,” he said.
Meanwhile, Low said the world economy is facing rising risk of recession in some advanced economies.
He also said that Malaysia will not be spared from external headwinds amid facing many economic challenges and business issues.
“The new government can ill afford a new honeymoon period, but will have to hit the ground running.
“Fixing the public finances must be at the top of the economic agenda for fiscal and debt sustainability,” he added.