FMT:
Rafidah calls for prompt action after Goodyear announces closure
07 Mar 2024, 04:22 PM
The ex-international trade and industry minister says authorities must analyse the factors leading companies to shut down operations.
The ex-international trade and industry minister says authorities must analyse the factors leading companies to shut down operations.
Rafidah Aziz’s remarks come after Goodyear announced that it will be shutting down its factory in Shah Alam from June 30, affecting 550 employees.
PETALING JAYA: Former minister Rafidah Aziz has called for the government to quickly respond to the developments surrounding the planned closure of Goodyear’s manufacturing plant in Shah Alam.
Rafidah said the government should obtain comprehensive information regarding the number of companies that have ceased operations in Malaysia and analyse the factors behind these closures.
“It was a shock to read in the media about a long-time entity in the industrial sector, Goodyear, having decided to close its operations in Malaysia. It must give us pause to understand why,” the former international trade and industry minister said in a statement.
“The government must quickly respond to such developments. While touting billions of possible investments, expectations being mooted and discussed, it is so important that industrial and business entities which are already here do not close shop and leave for other countries.”
Rafidah’s remarks come in the wake of Goodyear’s announcement that it will shut down its factory in Shah Alam from June 30, affecting 550 employees.
Goodyear Asia Pacific president Nathaniel Madarang said the move is part of the “Goodyear Forward” transformation initiative aimed at streamlining the company’s operations.
The factory in Shah Alam started operating in 1972.
Goodyear had been present in Malaya since 1929 and became a tyre supplier for the country’s first car, the Proton Saga, in 1985.
In her statement, Rafidah also said the country should never rely on the signing of memorandums of understanding (MoUs).
She said there must be detailed MoUs that encompass commitments to site locations and workforce considerations.
She also said the volume and value of annual expected sales, joint ventures, and other relevant information should be included in any MoU, especially if the prime minister or a minister is a witness.
“We must strive to make Malaysia the location of choice for investors both domestic and foreign,” she said.
PETALING JAYA: Former minister Rafidah Aziz has called for the government to quickly respond to the developments surrounding the planned closure of Goodyear’s manufacturing plant in Shah Alam.
Rafidah said the government should obtain comprehensive information regarding the number of companies that have ceased operations in Malaysia and analyse the factors behind these closures.
“It was a shock to read in the media about a long-time entity in the industrial sector, Goodyear, having decided to close its operations in Malaysia. It must give us pause to understand why,” the former international trade and industry minister said in a statement.
“The government must quickly respond to such developments. While touting billions of possible investments, expectations being mooted and discussed, it is so important that industrial and business entities which are already here do not close shop and leave for other countries.”
Rafidah’s remarks come in the wake of Goodyear’s announcement that it will shut down its factory in Shah Alam from June 30, affecting 550 employees.
Goodyear Asia Pacific president Nathaniel Madarang said the move is part of the “Goodyear Forward” transformation initiative aimed at streamlining the company’s operations.
The factory in Shah Alam started operating in 1972.
Goodyear had been present in Malaya since 1929 and became a tyre supplier for the country’s first car, the Proton Saga, in 1985.
In her statement, Rafidah also said the country should never rely on the signing of memorandums of understanding (MoUs).
She said there must be detailed MoUs that encompass commitments to site locations and workforce considerations.
She also said the volume and value of annual expected sales, joint ventures, and other relevant information should be included in any MoU, especially if the prime minister or a minister is a witness.
“We must strive to make Malaysia the location of choice for investors both domestic and foreign,” she said.
Don't despair. The Madani govt with their influential Chinese MPs will be bringing in billions of investment from China.
ReplyDelete