KUCHING, Jan 25: In an interconnected world where a micro business has access to markets worldwide, Malaysia must position itself to go beyond its domestic walls and exploit more lucrative opportunities abroad.
This was said by Minister of Domestic Trade and Consumer Affairs Dato Sri Alexander Nanta Linggi at the 2022 Malaysian Economic and Strategic Outlook Forum held virtually today.
“We must not overlook the fact that our neighbours have taken proactive steps to undergo digitalisation processes for their businesses.
“Competition, therefore, is expected to be stiff, with the market promising to become more saturated with more global players in every sector.
“We truly cannot afford to remain stagnant, and we must broaden our game in the digital space,” he said in his special address.
The Kapit MP explained that as the effects of the Covid-19 pandemic subside and people’s lives gradually return to a state of normalcy, Malaysia must position itself to move forward and not backward as in how businesses were operated pre-pandemic.
Meanwhile, he also reminded Malaysians to support local businesses.
“These micro and small businesses are what makes Malaysia what it is. Moreover, it is small businesses that bring out a sense of community. Hence, we must go the extra mile to support our local businesses.
“At the same time, our local businesses must step up to provide the best products and services by offering better quality. To do this, a competitive spirit needs to be cultivated where each person, be it business owner or employee, must do their best and go beyond, rather than just carry out run-of-the-mill activities.”
He added that with a competitive spirit, other values would manifest, including innovation. People will think of new ways to set themselves apart to offer better products and services, ultimately providing better value to consumers.
“We must realise that we are no longer competing with others in the domestic market, especially at a time where even the most basic of household items or niche items can be bought seamlessly on e-commerce platforms.
“In short, we can no longer remain comfortable and operate business as usual in this interconnected global market. Instead, we need to find new value propositions for our customers to sustain their patronage.
“Malaysians must step up and become a more productive society. If such a business environment can be cultivated in our domestic industries, it will only be natural for international investors to take an interest in setting up operations in our country. It truly begins from us,” Nanta added. — DayakDaily
