Malaysia warns cheap imports threaten local industry survival

Malaysia's Minister of Investment, Trade and Industry, Datuk Seri Johari Abdul Ghani, has warned that a continuous reliance on cheap imported products could jeopardize the survival of local manufacturers. Speaking in the Dewan Rakyat, he noted that if local producers cannot compete with low-priced imports, they may be forced to close their factories, ultimately increasing the nation's long-term dependence on foreign suppliers.

Johari highlighted that the loss of domestic production capabilities could lead to higher costs for products that were once affordable imports once local alternatives cease to exist. He identified this trend as a contributing factor to the significant trade deficit between Malaysia and China, which reached RM146 billion last year.

The Ministry of Investment, Trade and Industry is currently analyzing specific products contributing to this trade deficit. Johari emphasized the need for drastic government action to protect the national economy and ensure local industries remain competitive, especially to mitigate risks during trade tensions between major global economies like the United States and China.