ACCCIM president Ng Yih Pyng said such pragmatic policies are crucial to help businesses navigate potential impacts from new trade policies introduced by major economies.

“Businesses want clarity and consistency in public policies. It is vital to maintain pro-business policies that are pragmatic and progressive, fostering a secure and conducive environment for investors and businesses to thrive,” he said at the chambers’ Chinese New Year reception today.

Ng said the government should give more support to MSMEs in exploring new export markets and diversifying their supply chains.

“Malaysia’s signing of the Comprehensive Economic Partnership Agreement with the United Arab Emirates can serve as a conduit to build more trade partners in the Middle East.

“Malaysia’s resumption of negotiations for the Malaysia-European Union Free Trade Agreement will strengthen economic ties with the European Union,” he said.

ACCCIM also called for a gradual implementation of economic reforms and measures to prevent disruptions to the market and businesses.

Of particular concern are the electricity tariff hikes and the proposed mandatory Employees Provident Fund contribution for foreign workers.

Ng reaffirmed that ACCCIM remained positive about Malaysia’s investment prospects and will play a key role in fostering economic cooperation, promoting business collaboration and networking between Malaysians and foreign businesses.

“There is a sense of cautious optimism for this year’s economic outlook and business conditions.

“The preliminary findings of a ACCCIM survey show that over 30% of respondents anticipate better economic and business prospects for 2025, higher than the below 20% for 2024,” he said.