Tan Sri Azman Hashim
President
MASSA 

2022 began when most countries progressively transitioned towards endemic management of COVID-19. The global economy anticipates to continue its recovery path, albeit having to adjust and respond towards evolving uncertainties exacerbated by the global supply chain issues, and now, further compounded by geopolitical instability.

Economic recovery for Malaysia is expected to gain momentum in 2022, with the reopening of its economy and international borders. Malaysia will be a beneficiary of the expanding global demand and thus its economy is expected to grow between 5.3% and 6.3% for 2022. This growth is expected to be further supported by a recovery in the labour market, external demand and improvement in household spending.

The Regional Comprehensive Economic Partnership (RCEP) Agreement came into force for Malaysia on 18 March 2022. As an official member of the largest free-trade-agreement in the world, and being in the center of ASEAN, enables Malaysia to access a larger market (a third of the world’s population) combined with the lowered barrier of entry via tariff reduction on more than 90% of goods in trade and mutually recognising international standards, technical regulations and intellectual property rights. I encourage MASSA members and our business community, especially the SMEs, to fully utilise and position your businesses to reap the gains of this FTA, by making full use of digitalisation, harnessing the power of e-commerce, innovation and joint ventures with countries such as China and Japan.

The China-Laos Railway began its operations in December 2021. Aside from boosting tourism, this timely logistical infrastructure will enhance cross-border commerce with reduced costs and transit time. This will bode well to encourage greater trade linkages between ASEAN countries and the wider Asia-Pacific Region with China, its hinterland and Europe.

MASSA will continue its role in supporting our Government and be a platform to highlight the opportunities for businesses, especially with the developing countries. MASSA will continue its engagement and collaborative efforts with Government agencies, fellow business associations, both old and new, and keep MASSA members and stakeholders updated with the latest trends, changes or relevant events. I do encourage members to attend these events and evaluate the opportunities arising therefrom.

I would like to express my appreciation to all members for your continuous support and cooperation, especially my fellow Executive Committee members with your attendance and participation at our regular meetings as well as your generous contributions. I also wish to thank all our supporters who have contributed valuable and insightful articles.

I wish everyone good health and success this year.
Selamat Hari Raya 2022!

Tan Sri Azman Hashim
President
22 April 2022