The government will continue to implement measures and support efforts to enhance the competitiveness of the Malaysian automotive industry once the Asean Free Trade Area is fully implemented, acting Prime Minister Datuk Seri Abdullah Ahmad Badawi said on Tuesday, according to The New Straits Times Press.
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He said the Government would ensure that the playing field is level and the operating environment for businesses remains conducive.
“There can be no easy way or shortcut to success. Companies must accelerate their initiatives to raise their competitiveness or risk being marginalised,” he said at UMW Toyota’s 20th anniversary celebration.
He said trade liberalisation opens up markets and forces local corporations to withstand competition from beyond national borders, adding that the rate of technological development makes products outdated and obsolete even quicker, forcing producers to innovate more quickly.
He advised companies to invest heavily in human resources and technology to ensure its people were inculcated with the right knowledge and attitude.
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By GlobalData“They must also show emphasis on research and development in order to innovate and enhance the quality of their products.”
