GLC reviews will create more vibrant, competitive private sector

: A review of the role played by government-linked companies (GLCs) and limiting government intervention in business will create a more vibrant and competitive private sector, as well as a more focused and efficient government, said National Chamber of Commerce and Industry of (NCCIM) president, Tan Sri Ter Leong Yap.

He was responding to the Pakatan Harapan manifesto which stated that GLCs should operate in sectors that suffer from market failure, and not compete against private companies.

“Above all, enhancing transparency and implementing open tenders for government projects, which is estimated to be worth over RM100 billion anually, will be instrumental not only in levelling the playing field for qualified private sector players, but also ensure that taxpayers’ money is properly spent.

“This will create a win-win situation for all stakeholders,” he said in a statement yesterday.

Ter said the government’s express intention to participate more actively in Asean, the Regional Comprehensive Economic Partnership, the European Union, Chambers of Commerce and business groupings were positive signs for the local and the global business communities. — Bernama

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Source: Borneo Post Online

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