Academicians and consumer advocates hail the government's call to prioritize local goods as a strategic move to bolster the domestic economy against the global energy crisis, emphasizing the need for supporting ecosystems and price monitoring.
KUALA LUMPUR: The government's call for Malaysians to prioritise local goods has been seen as a strategic move to strengthen the domestic economy and cushion the impact of the global energy crisis , says an academician.
Universiti Putra Malaysia Human Ecology faculty dean Prof Dr Mohamad Fazli Sabri said supporting Malaysian products would directly help local companies sustain and expand employment opportunities. "In the short term, this practice can ease pressure on the trade balance and the ringgit, while enhancing the country's resilience against external shocks," he told Bernama on Wednesday . The professor, however, stressed that the initiative must be backed by a comprehensive ecosystem, including incentives such as tax breaks and automation support to help manufacturers lower production costs. He also called for tighter price monitoring to prevent profiteering under the guise of global crises or increased demand for local products. Echoing this view, Federation of Malaysian Consumers Associations chief executive officer Dr Saravanan Thambirajah said support for local goods should be driven by value rather than sentiment alone. While acknowledging that many local products are increasingly competitive in price and quality, he said producers must continue improving consistency and innovation to compete effectively with imported brands. "One key concern is the potential for price hikes and lack of transparency. Without proper oversight, consumers may end up paying more for products that are not comparable in quality," he said.For small and medium enterprise entrepreneur Nor Zailin Haron, who has been producing banana chips for 15 years, the initiative offers renewed opportunities, and she described the move as a positive step, despite rising raw material costs. "The government's call is encouraging for small businesses. Although we face higher costs for inputs like bananas and cooking oil, we are taking proactive steps to improve production quality and marketing strategies to stay competitive," she said. She also highlighted digital platforms as crucial in expanding market reach, in line with growing online purchasing trends. Meanwhile, private sector employee Sally Ainidawati Tan Saleh, 52, said she increasingly prefers local products due to more stable pricing and improved quality. "In today's challenging economic climate, local goods, especially food items, are more price-stable compared with imports, which have become more expensive. "While packaging could still be improved, the quality and freshness are comparable. What matters is consistency and fair pricing," she said. On Tuesday , in a post on X, Prime Minister Datuk Seri Anwar Ibrahim urged Malaysians to strengthen the domestic economy by supporting local products and entrepreneurs, saying that internal strength is the main defence in facing the global energy crisis triggered by the conflict in West Asia. - BernamaProactive steps based on data, current realities to tackle global energy shocks, says AnwarFomca urges Malaysians to spend prudently in face of rising costs
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