The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) forecasts challenges for businesses in 2025, despite a positive outlook for investment. High operating costs, cash flow issues, and rising raw material prices are key concerns. ACCCIM president Datuk Ng Yih Pyng urges the government to implement pragmatic policies supporting businesses, particularly SMEs, including export credit schemes, reduced import duties, and assistance in exploring new export markets. While acknowledging the need for economic and subsidy reforms, Ng expresses concern over the proposed 14.2% electricity tariff hike for Peninsular Malaysia, urging its postponement to ease financial burdens on businesses and mitigate inflationary pressures.
Anwar , Transport Minister Anthony Loke Siew Fook , Ng and Housing and Local Government Nga Kor Ming tossing yee sang at the 2025 ACCCIM Chinese New Year Reception today. – Bernamapic
He said preliminary findings of an ACCCIM survey show that more than 30% of respondents anticipate better economic and business prospects for 2025, compared to below 20% for 2024. Prime Minister Datuk Seri Anwar Ibrahim was the guest of honour at the event. Other key government ministers, distinguished dignitaries and ambassadors representing foreign missions also attended the gathering.
“Given the bunching of additional operating costs, we sincerely urge the government to maintain electricity tariffs at current levels throughout 2025-2026 to ease the financial burden on businesses and mitigate inflationary pressures from increased operating costs,“ Ng said, in expressing concern over the tariff hike that will potentially impact domestic industries.
“How do I improve education? How do I assist the poor? How do I upgrade the roads? How do I enhance medical facilities? It is through a small tax increase. A slight increase is acceptable,“ he added.
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