KUALA LUMPUR, 27 February 2020 - The Ministry of International Trade and Industry (MITI) today issued a statement to reassure local and international businesses that Malaysia remains a pro-business nation, backed by strong economic fundamentals.

While acknowledging that Malaysians are now faced with "one of the most challenging periods of our times", which might have caused uncertainty in Malaysia's business climate, it stressed that the country's business ecosystems and policies are still among the most robust globally.

“MITI and the 11 agencies under the Ministry will continue to facilitate the growth of Malaysian industries that remain the backbone of the economy and consequently, a key contributor to the rakyat’s well-being,” it added.

MITI said it will continue to adopt a pragmatic approach to attract high-quality foreign direct investments (FDI) into the country while facilitating the expansion of Malaysian exports into third country markets.

"We will also continue to intensify efforts to include more local Small and Medium Enterprises (SMEs) into the global supply chain. Our on-going work in implementing Industry 4WRD, hosting APEC 2020 and operationalising the National Automotive Policy (NAP 2020) are on track and will continue as planned," it said.

"In summary, MITI and Agencies are, as we always have been, open for business. As such, should the private sector require any facilitation from us, please be assured that there are dedicated and capable public servants readily available to address your queries and concerns, as well as to offer clarification, guidance and assistance, where needed," it added.