Newly appointed Minister of International Trade and Industry, Tengku Zafrul has clocked into office on a Sunday at 6:07 pm. The former Finance Minister who lost marginally, in the recent general election, was roped into the Cabinet after being appointed as Senator.
Having held the Finance Minister post under two Prime Ministers, Zafrul was somewhat fresh of breath air in the cabinet being the only corporate figure who was not a politician. Having steered the country during its most trying times with financial policies unconventional at times, like the EPF withdrawal schemes, wage subsidies, and loan moratoriums, the former CIMB banker introduced new ideas to veteran politicians who surprisingly listened.
MITI will be a portfolio Zafrul can relish, the is Ministry directly involved in the country’s economy. Held by Datuk Seri Azmin Ali before, the task ahead will not be easy for Zafrul. Foreign Direct Investment has been waning over the decades, reaching its peak in 2011 Malaysia has not been able to match those highs, we are no longer the top choice in ASEAN losing out to the likes of Indonesia, Vietnam, and Thailand.
Having signed and ratified historic trade agreements like the RCEP and CPTPP, the newly minted MITI minister needs to get up to speed and open up more markets for our manufacturing, SME, and service sectors.
Perhaps he knows that there will be many Sundays from now on in the office!
