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Govt studying methods to revive economy in stages: Muhyiddin

23 Apr 2020 / 23:29 H.

PETALING JAYA: Prime Minister Tan Sri Muhyiddin (pix) said that the government is currently studying methods to revive the country’s economy in stages.

“In this regard, I have directed the Ministry of Finance and the Economic Planning Unit of the Prime Minister’s Office to develop a comprehensive short-term, medium and long-term Economic Recovery Plan,“ he said.

“The focus now is to identify measures and initiatives that will stimulate short and medium term economic growth, and encourage the confidence of the people and investors to revitalise the country.”

He said the initiatives will be focused towards building the capacity and skills of the people, promoting domestic spending, enhancing the resilience of industries including SMEs, and fostering a more positive investment environment for the future.

Muhyiddin added, while the movement control order (MCO) may be extended further, companies in certain sectors will be allowed to operate, subject to compliance with the requirements in regards to the workers’ safety, social security and workplace hygiene.

“Several economic sectors have been opened already. Subsequently, the government will consider opening more sectors and other sub-sectors subject to stringent requirements,“ he said.

“This is to ensure that the company remains competitive and that the employees can continue to work in a safe environment.” He said adding that detailed guidelines and conditions will be given to investors and the corporate sector to start their respective companies’ operations.”

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