PM: Putrajaya planning for swift revival of Malaysia’s economy after MCO

• Apr 23, 2020

KUALA LUMPUR, April 23 — Putrajaya is planning for the fast revival of the nation’s economy, albeit in phases, after the movement control order (MCO) ends, Prime Minister Tan Sri Muhyiddin Yassin said today.

In his special address on the eve of Ramadan, Muhyiddin said that this includes drafting a framework for short- and medium-term economic revival to repair the country’s financial standing.

“Therefore, I have ordered the Ministry of Finance, the Economic Planning Unit (EPU) and the Prime Minister’s Department to draft a short-term, mid-term and long-term Economic Revival Plan that is wholesome.

“The focus now is to identify the steps and initiatives which would boost short-term and mid-term economic development, as well as inculcate confidence in people and investors, to revitalise the nation’s economy,” he said.

Muhyiddin added that among the initiatives being planned were to build the capacity and skills of the people, promote domestic spending, increase the resilience of industries including small and medium enterprises (SMEs) and foster a more positive investment environment for the future.

He said that while the MCO may be extended again later, companies in certain sectors would be allowed to operate, subject to compliance with the requirements that are essential to employee safety, observing social distancing and workplace hygiene.

“Even now, several economic sectors have already been opened. Subsequently, the government will consider opening up other sectors and sub-sectors subject to stringent requirements.

“This is to ensure that the companies remain competitive and employees can continue to work in a safe environment,” he said, adding that detailed guidelines and conditions will be given to investors and corporations to start their respective companies’ operations.

Source: https://www.malaymail.com/news/malaysia/2020/04/23/pm-putrajaya-planning-for-swift-revival-of-malaysias-economy-after-mco/1859634