Only bipartisan pact and parliamentary reform will convince investors of Malaysia’s political stability, trade groups tell politicians

KUALA LUMPUR, Aug 23 — Two trade groups today suggested newly minted Prime Minister Datuk Seri Ismail Sabri Yaakob continue reaching out to his political rivals for a cross-party peace plan to enable the Covid-19 ravaged country to move forward.

The Malaysia-China Chamber of Commerce (MCCC) and Dewan Perdagangan Islam Malaysia (DPIM) welcomed Ismail’s “Keluarga Malaysia” concept as a conciliatory approach to mend the recent political rifts. 

The two groups also urged the Opposition MPs from diverse parties to think pragmatically and consider offers from Ismail so Malaysia can recover economically from the pandemic.

“MCCC and DPIM stress that Malaysia needs a cross-party pact to both sustain the government for a minimum of 12-18 months and significantly improve the quality of policymaking and implementation. 

“Without political stability and better governance, Malaysia will lag behind neighbouring countries in the post-Covid 19 recovery, which may push back our economic strength by one generation,” the two groups said in a joint statement.

They highlighted that the country’s pandemic and economic policies had been hampered by two structural weaknesses when the previous government excluded input from Opposition lawmakers, business groups and civil society in policy making.

They added that the situation was worsened by the suspension of Parliament under the nationwide Emergency from January to August 1, resulting in confusing policies.

“MCCC and DPIM urge for the setting up of Parliamentary Special Select Committees to provide legislative oversight on every ministry, and to allow multiple entry points for voices of businesses and society to be considered,” they said.

The two groups also urged the PM to set up a Federal-State Council (FSC) and engage experts and the private sector to improve the quality and coordination of economic and pandemic policies for Malaysia’s recovery.

“Chaired by PM with Parliamentary Opposition Leader as the deputy chair, with all 13 MBs/CMs, this would send a clear message to the market that the political stalemate is over,” they added.

Yesterday, Ismail mooted the “Keluarga Malaysia” or “Malaysian Family” concept in his maiden speech as prime minister to save Malaysia from the pandemic.