Wednesday, August 5, 2020
Over the years, Malaysia’ economy has been somewhat bogged down by structural issues; causing the nation to lag behind some of its counterparts within the region, said Minister in the Prime Minister's Department Datuk Seri Mustapa Mohamed. While COVID-19 has caused unimaginable damage to the global economy, it has also...
Malaysia may reopen its border with Singapore as early as August 17 under the Reciprocal Green Lane (RGL) and the Periodic Commuting Arrangement (PCS). Malaysian Foreign Minister Datuk Seri Hishammuddin Hussein announced this after meeting his Singaporean counterpart Dr Vivian Balakrishnan, at the Johor-Singapore Causeway Sunday. Datuk Seri Hishammuddin...
Malaysia has announced that it will be addressing the many pressing economic issues that are currently present within the country. These include mismatch of workforce demand and supply as well as red tape and regulatory setbacks in its upcoming economic plans. The plans will also address low technology adoption by...
Minister in the Prime Minister’s Department, Datuk Seri Mustapa Mohamed said that the government would address three issues in the long-term economic recovery plan including red tape and regulatory reform. Citing an example, he said the World Bank has revealed that businesses in the country need to take 17 days...
The Council of Palm Oil Producing Countries (CPOPC) said Malaysia’s palm oil industry may see a full recovery in the fourth quarter of this year if the Covid-19 pandemic is manageable and contained. The council also believed that there is a possibility of a rebound in the...
The World Bank said Malaysia is riding out the severe economic downturn comparatively better than many economies. Country director for Brunei, Malaysia, the Philippines, Thailand, East Asia and Pacific, Ndiamé Diop said Malaysia’s diversified economic structure, sound financial system, effective public health response and proactive macroeconomic policy...
United Overseas Bank Bhd Malaysia and The FinLab have launched The FinLab Online, a regional digital platform to help local SMEs and start-ups implement digital solutions to transform their businesses. The digital platform will incorporate the Jom Transform Programme, the first business transformation programme in Malaysia to help local SMEs digitalise...
Up to 42 percent of Malaysian SMEs have reduced their number of employees as a result of the economic downturn caused by COVID-19 and the subsequent lockdowns it caused. At the same time, up to 47 percent of SMEs still expressed confidence about future prospects. According to a collaborative report...
The Malaysian government has allocated RM315 million to strengthen the start-up industry in the country post-COVID-19 pandemic. Deputy Science, Technology and Innovation minister Ahmad Amzad Hashim said for that purpose the Ministry of Finance had agreed to provide an additional allocation of up to RM100 million to Malaysia Debt Ventures...
The Malaysian Investment Development Authority (MIDA) announced that a total of 726 projects with proposed investments of RM36.7 billion were in the pipeline for the manufacturing, services and primary sectors as of June 2020. Despite the encouraging numbers, it cautioned that 2020 will be a challenging year...
E-commerce platform Lazada Malaysia continues its efforts to support local SMEs through the government's Micro and SMEs E-commerce Campaign, with a ringgit-for-ringgit co-funding program under the digital-led National Economic Recovery Plan (PENJANA). This new initiative aims to benefit approximately 30,000 local SMEs to help them mitigate the impact of the...
COVID-19 has brought with it a new normal that the entire world will have to get used to. Developed nations with a strong digital economies will not have too much trouble adapting. However, other nations who are still working on digital transformation will find it much harder to adapt. Malaysian...