00:00It is crucial to consider the broader implications of boycott movements, even if they have not
00:08significantly affected the nation's economy.
00:12This is what economist Go Lim Thai told FMT, adding that the closure of foreign food and
00:17beverage businesses could raise the unemployment rate for the sector.
00:22He said this would, in turn, create a negative perception among foreign investors regarding
00:28market stability.
00:30In April, QSR Brands Holdings Berhad said it had temporarily closed several KFC outlets
00:37following months of boycotts due to its perceived links to Israel.
00:42On July 31, the Economy Ministry said in a parliamentary reply that the boycott movements
00:48had not affected the economy since the food and beverage subsector contributes less than
00:532.5 per cent to the GDP.
00:56Nazari Ismail, an economist and the Malaysian chairman of the BDS boycott movement, agreed
01:01with the ministry's findings.
01:03He said most consumers are simply shifting from foreign to local products.
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