Business Services Industry
Associations ask for FIC to be modified or removed, BUSINESS TIMES
Business Times (Malaysia), April, 2003
Business Times (Malaysia) 04-22-2003 NATIONAL associations representing international companies and manufacturers have proposed that the Foreign Investment Committee (FIC) be either modified or removed. The Malaysia International Chamber of Commerce and Industry (MICCI) and the Federation of Malaysian Manufacturers (FMM) made the call at the annual dialogue with the Ministry of International Trade and Industry (Miti). Established nearly 30 years ago, the FIC is a unit under Miti.
Its approval is often sought before companies can go ahead with a business plan. The MICCI said the FIC has outlived its role as the guardian of national interests, especially since other government bodies/ministries are already entrusted with the task of ensuring that...
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