Updated: Jun 12, 2020
The government is anticipating more businesses to reopen next week after the Hari Raya Aidilfitri celebration and resume their full productivity level in the coming weeks.
Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said this will ensure that jobs are kept intact and businesses can run as usual, thus stabilising the economy.
He said the Economic Action Council (EAC) is working closely with all stakeholders to gather feedback and real-time data for the country’s short-, medium and long-term plan.
"We need to make sure that businesses can respond quickly to decisions taken by the government,” he said at the “Growing Business Against the Tides of Disruptions” webinar today, organised by Le NouveauPro Sdn Bhd.
He said the government is dealing with the challenges and is focusing on problem solving through regular interaction with various stakeholders, while ensuring that foreign direct investments (FDI) and domestic investments continue to grow, as well as boosting consumers' confidence.
Mustapa said the long-term plan for the country is expected to be announced in the next three to four months, as government agencies are currently working on implementing measures to address challenges faced by various economic sectors.
Meanwhile, he said the EAC, now a decision-making body, has acknowledged that the country is in the midst of a recession and needed structural reform in certain sectors.
"As we are in the new reality, we also find that some small and medium-sized enterprises have responded by becoming fully digital.
“We need to consider these changes and factor them into our long-term plan," he said.