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75% Of Products In Shops Are Locally Manufactured: Govt Praises Import Restrictions

Speaking at the opening of Davipel’s $12 million snack manufacturing plant at the firm’s headquarters in Sunway City 2 weeks ago, Industry Minister, Mike Bimha said 75% of products in shops are locally manufactured because of Statutory Instrument 122 of 2017.

Bimha said the opening of Davipel’s $12 million snack manufacturing plant was a result of Statutory Instrument 64 of 2016, which is now Statutory 122 of 2017. Said Bimha:

We are happy to tell the nation that the opening of this state- of –the-art plant is a result of Statutory Instrument 64 of 2016, which is now Statutory 122 of 2017, which was critical for assisting increased domestic production and capacity utilisation. Consequently, 75 percent of the goods in our shelves are locally manufactured. When we put that SI (122) it was viewed as a draconian law but look at what it has done to some locals who are opening up some industries. The move is part of broader Government efforts to enhancing ease of doing business and address regulatory bottlenecks that are blamed for inhibiting exports.

Government has removed all, except fertilisers, second hand equipment, sugar and gypsum from export licensing requirements as gazetted through Statutory Instrument (S.I) 122 of 2017.

More: Herald

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