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KUALA LUMPUR: The government must provide a clear direction in assisting businesses in the country to enable them to grow amid challenging times ahead.
Malaysian Employers Federation (MEF) president Datuk Dr Syed Hussain Syed Husman said the government should consider deferring the implementation of amendments to the Employment Act.
He said the amendments to the Act would add additional costs and burden the businesses during the critical recovery period.
"We also hope that the government will consider the current challenges faced by employers.
"The amendments to the Employment Act, scheduled to be implemented on Sept 1, significantly add to the costs of doing business. It should be introduced gradually over time and not be introduced and implemented simultaneously," he said.
Syed Hussain expressed thanks to Prime Minister Datuk Seri Ismail Sabri Yaakob and the government for establishing the right policies that led Malaysia to achieve a respectable 8.9 per cent gross domestic product (GDP) growth in Q2 2022.
"Besides the encouraging figures, our nation has done well to reduce unemployment rate to 3.8 per cent. This in effect has allowed it to return to its pre-lockdown rate of under four per cent which, based on the ILO (International Labour Organisation) definition, means full (rate of) employment."
"During the same period, Malaysia recorded a trade surplus over RM2 trillion and this is very encouraging for our future GDP outlook."
He said clear direction and focus for the business community were vital to keep the economy on its track.
"We look forward to more business-friendly policies and incentives to be rolled out ahead of the upcoming 2023 Budget in October," he said.
Source: https://www.nst.com.my/news/nation/2022/08/825476/mef-president-amendments-employment-act-could-burden-businesses