Malaysia: PM to launch short-term economic recovery plan in Jun 20

  • PRIME Minister Muhyiddin Yassin will launch in Jun 20 the short-term economic recovery plan for Jun 20 to Dec 20, said Finance Minister Tengku Zafrul Abdul Aziz.
  • Tengku Zafrul said the plan would still focus on three key objectives, namely to empower people, propel businesses, and stimulate the economy.
  • He said the plan was defined by four characteristics – that it must be agile and dynamic, prioritise public-private sector cooperation, ensure comprehensive communication by upholding transparency and openness, and have a data-based approach.
  • Explaining the first characteristic, that is, agile and dynamic, Tengku Zafrul said this meant that the plan could be improved and refined continually, according to current needs and uncertain or unprecedented situation, throughout 2020.
  • On prioritising public-private sector cooperation, he said the plan would cover various measures with the cooperation of as many industry players from the private sector, and not only from government-linked companies and government-linked investment companies.
  • Thirdly, comprehensive communication and wide reach — wherein the people and business sector in Malaysia should be confident of this plan so that all would be able to play their respective roles to regenerate the country’s economy.
  • “The government will ensure the communication efforts are done continuously, whereby transparency and openness were important in making these efforts a success,” he said.
  • On the fourth feature — data-based approach, Tengku Zafrul said the implementation of the plan would be based on data and statistics so that each achievement could be monitored and refined with speed and accuracy.

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