Local MY products should be promoted internationally by govt, says Deputy PM

Local Malaysian products have the potential to penetrate the international market, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi reportedly said at a media conference for the launch of MoodaFest 2024. 

MoodaFest 2024 is a carnival featuring renowned local retail brands, famous food vendors, talks on leadership, entrepreneurship and mental health, as well as musical performances from local bands and artists. 

He added that local products, especially those produced by young Malaysian entrepreneurs, need to be continuously promoted by the government and that its promotion must be structured, not done half-heartedly, according to Bernama.

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During the launch, Deputy Prime Minster Zahid reportedly vowed that the government would help local entrepreneurs overcome constraints with the international network of the ministry of entrepreneur development and cooperatives, and the Majlis Amanah Rakyat under the ministry of rural and regional development. 

He added that the government will also help entrepreneurs with the Malaysian franchise association and other non-governmental organisations. 

Notably, Zahid also reportedly said that the government will assist in the manufacturing of these local products, not only in terms of financing, but also in terms of creating an international market, according to media reports. 

Zahid's idea to boost Malaysia's business by pushing local products to the international market is in tune with Prime Minister Anwar Ibrahim's plans to put Malaysia on the international map. 

In November last year, the prime minister of Malaysia called on Muslim countries to boost collaboration in business, investment and economics. 

At the Global Muslim Business Forum 2023 in Kuching, Sarawak, Anwar said that Muslim countries should work together instead of competing with each other. This is especially for neighboring countries such as Brunei, Indonesia and Thailand.

Anwar noted that the collaboration will benefit both countries greatly and that acceleration in fostering these relationships is necessary to not lose out in the global race.

"If the leadership takes initiative, I would like to accelerate the process. If we want to benefit from and not lose out in this race, we have to accelerate," said Anwar at the time. 

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