DPMM Labuan to play crucial role in local economic development - MIDA | Malaysian Investment Development Authority
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DPMM Labuan to play crucial role in local economic development

DPMM Labuan to play crucial role in local economic development

09 Jan 2021

The Malaysian Malay Chamber of Commerce (DPMM) Labuan will play a crucial role in the federal territory’s economic development with the close cooperation of the local authorities and other business chambers.

DPMM Labuan president Datuk Suhaili Abdul Rahman said these organisations have the potential to make the private sector the engine of growth in the duty-free-island.

“DPMM Labuan, with the cooperation of local authorities and other business chambers can play a key part in developing and growing the roles of the private sector, not just in the economy but also in the wider governance in this island,” he told Bernama after the DPMM Labuan’s state membership committee meeting here, today.

He said Labuan must maintain its competitiveness in being Malaysia’s international business and financial centre and regional oil and gas hub or it would be on the losing end.

“As such, DPMM Labuan being a business chamber must play a crucial role to assist in shaping Labuan’s economy, develop business activities and create employment…this will be our focus for this year,” he said.

Earlier, Suhaili who is the former Labuan Member of Parliament said business chambers do not just contribute to economic growth, development, peace, and prosperity, but also towards building inclusive entrepreneurship ecosystems.

“I share that belief…we need the business chambers to be led by capable men and women with vision and integrity.

“The success of these chambers is usually quite dependent on the quality of their leadership.

“There are some whose glory days are gradually leaving them…they unintentionally made the mistake of electing incapable leaders, some of whom are more interested in petty internal politics and even fail to organise simple things like proper annual general meetings.

“They manage the organisation through divide and rule, bad-mouthing those whom they disagree with,” he said.

Suhaili said unless the leaders who have failed are quickly replaced, these organisations are more likely to suffer diminishing membership and fade away.

There are also business associations that are led by people with vision and they invite people with a variety of skills to help them in growing their associations, and they are brave enough to embrace the changing dynamics in today’s world, he noted.

“These leaders value the contributions made by their staff. Rather than using the platform to promote only themselves, they invest in good people who can champion the cause of the private sector.”

He said Malaysian businesses have been actively playing their roles in improving governance, and ‘the most vocal actors on this matter are usually the civil society’.

Source: Bernama