Adopt strategies to exploit opportunities under FTAs, business community told
KUALA LUMPUR, March 14 (Bernama) -- Tan Sri Muhyiddin Yassin has urged the business community in Malaysia to rapidly adopt and strengthen their competitive business models and strategies to exploit the seamless global market opportunities presented under free trade agreements (FTAs).
The deputy prime minister said that in an environment where market opening was an on-going process and tariff barriers no longer provided protection, local entrepreneurs must be bold and brave to thrust their presence in both the traditional and non-traditional export markets.
They should also forge strategic business networking and partnerships to acquire the necessary edge over competitors and effectively penetrate the diverse global markets, he said at the George Kent (Malaysia) Bhd 75th Anniversary Celebration here Monday.
He also called on local companies to find innovative ways to grow rapidly, and locate and acquire potential investments or projects that will bear business success in the short and long terms.
Muhyiddin also said the government was now committed toward open communication between the public and private sectors to provide ample opportunity for the business community to address their concerns as well as submit views and suggestions to the government.
He said the business community should not hesitate to bring to the government's attention any aberration in the implementation of policies which unduly adds on to the cost of doing business in Malaysia and makes operating in Malaysia less competitive.
In conjunction with the 75th anniversary celebration, George Kent donated RM500,000 to the 1MCA Medical Foundation.
George Kent is the manufacturer of water meters, water works components and brass products. It also specialises in water works construction.
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