KUALA LUMPUR: Malaysian products can compete internationally with products from other countries in terms of their high quality.
Prime Minister, Datuk Seri Anwar Ibrahim said, this has been proven with several local products and brands that have been franchised including overseas.
“In the same context, I would like to quote the theory that was proposed by an American economist, Thorstein Veblen on the “conspicuous consumption” that emerged from the capitalist system.
“According to Veblen there are consumers who choose to buy branded products as it is believed to be of high quality as a way to exhibit one’s wealth but in reality, it is not.
“There are also groups that will be amazed by trends and propaganda of big brand advertisements rather than the need and “practicality,” Anwar said in his Facebook post here Thursday.
He said that during his officiating speech at the “Malaysian Products’ Karnival 2023” organized by the Ministry of Domestic Trade and Costs of Living here today.
According to Anwar, in the context of the campaign that has been activated since 1984, this is a responsible step to ensure the products produced by local entrepreneurs have space to grow and breathe besides the opportunity to work hard to compete with other brands and quality.
“However of course we do not organize to ban any product but we can afford to start with the intention to invigorate and strengthen the domestic economy,” he said.
The Tambun Member of Parliament added the big brands that surround the people today started from below and small but most importantly all local entrepreneurs should focus seriously on quality besides building the basic strength of the product.
The prime minister expressed his appreciation and congratulated the entrepreneurs who participated in the program. –Malaysia World News