KOTA KINABALU: Malaysian manufacturers welcome the 2 pc Employees Provident Fund (EPF) rate for foregin workers said Sabah Industry Development and Entrepreneur–ship (MIDE) Minister Datuk Phoong Jin Zhe.
“The Malaysian Manufacturers Federation for example said it was much lower than anticipated since announced last year and saves ordinary Malaysians.
“In the end the Prime Minister and the federal government listened to our views and expressed it in cabinet. It shows a good government committed to listening to the views of businesses.
“Foreign workers also have some money to put in Malaysia so it’s a win-win situation,” he said launching the Pos Shop at the Pos Malaysia post office here.
On gripes of the latest minimum wage hike, Phoong, who is also Luyang Assemblyman said the government is working to enlarge Sabah’s economic price.
This, he said, includes bringing in more investments, upscaling businesses, bring in more tourists, creating more jobs which means entrepreneurs can pay higher salaries.
“Not only RM1,700 but even more than that…you want to please your workers, your workers are not happy with RM1,500 and they are still not happy even with RM1,700.
“So how are you going to balance these key forces? That is the key question not only in Malaysia but throughout the world.
“In every country they want to increase the salaries of workers, they will face the backlash of the business of people.
“So how are you going to do that? The only answer is that to have greater GDP growth, to be one of the highest in South East Asia and Asean region,” he said.
He noted that in 2023, Sabah’s manufacturing growth was at 4.4 pc, a champion in Malaysia, while its service sector GDP grew 4.5 pc.
