The Federation of Malaysian Manufacturers (FMM) today urged the government to provide a bigger allocation for export and investment promotion in the upcoming budget.

The tabling of Budget 2010 is scheduled on Oct 23, 2009.

"It is important to continue the momentum to attract more foreign direct investments into Malaysia and to sustain that, we need a bigger allocation for promotion," said FMM president Mustafa Mansur.

"If Malaysia is to be known as a trading nation, it is important to spend money to promote the country in the international arena," he said at a press conference after a media briefing today.

"This can be done through many platforms, including the annual Hannover Fair in Germany," Mustafa said.

"Besides that, the government is also undertaking measures in promoting small and medium enterprises (SMEs). So, it is important to promote them and their products at the right platforms," he said.

Slow but positive growth

According to Mustafa, the country cannot expect local companies to do well in the global market without assistance in promoting their businesses.

"The government must assist more as we have to compete with Asean nations which are equally competitive. Malaysia needs to go out and spend money," he said.

On the economy, Mustafa said that FMM is expecting a slow but positive growth for the manufacturing industry in 2010.

"The economy has improved since April 2009 and orders have started to pick up, especially for the electrical and electronics industry. We hope to see a slow but an upward trend next year," he said.

The FMM has 2,400 member companies, mainly from the food and beverage, and electrical and electronic industries.

- Bernama