Accra:The government will scrutinize the enforcement of regulations concerning the entry of foreign products and businesses into the local market to ensure fair competition and protect the interests of local micro, small, and medium enterprises (MSMEs).

According to BERNAMA News Agency, Deputy Prime Minister Datuk Seri Fadillah Yusof stated that this issue was discussed during the Cabinet Committee on Empowering the Purchase and Use of Local Products meeting, which he chaired. The Ministry of Investment, Trade and Industry (MITI) and the Ministry of Finance (MOF) will establish a working committee to examine this matter closely.

Fadillah highlighted that local traders, particularly MSMEs, are concerned about the increasingly competitive market, driven by the rapid development of digital trade and the presence of foreign e-commerce entities. The committee acknowledges the need to enhance policy coordination, review the legal framework, and improve enforcement, especially in the digital trade sector.

Attention is also being given to drafting the e-Commerce Bill to create a more effective digital trade ecosystem, which considers traders, MSMEs, and consumers' interests amid changing trade landscapes.

The meeting also reviewed the terms of reference and membership of the Cabinet Committee to improve coordination between ministries and agencies. This aims to ensure initiatives related to local products are implemented cohesively, preventing duplication and enhancing the effectiveness of follow-up actions.

Fadillah also mentioned discussions about standardizing the use of the "Jom Beli Produk Malaysia" (JOM MALAYSIA) logo in local product promotion programs. The Ministry of Domestic Trade and Cost of Living (KPDN) was suggested to coordinate guidelines for logo use, which includes monitoring and reporting mechanisms to strengthen implementation and raise public awareness of the importance of purchasing local products.

He noted that this initiative aligns with Prime Minister Datuk Seri Anwar Ibrahim's announcement in Budget 2027, which allocates RM10 million for JOM MALAYSIA to bring rural products and high-value services to digital platforms and foreign markets. This allocation aims to expand the market reach of local products and services, especially from rural entrepreneurs and MSMEs, while enhancing their participation in the digital economy and international markets.