Economic Action Council to give focus on several aspects this year
The Economic Action Council (EAC) aims to boost investment and strengthen productivity and innovation to spur economic growth. A statement from the EAC secretariat said the Council would also address unemployment through improving the quality of graduate with upskilling and reskilling training programmes. The statement was issued after the Council/s first meeting for this year, chaired by Prime Minister, Tun Dr Mahathir Mohamed.
In line with efforts to develop the digital economy in preparation for Industrial Revolution 4.0, the EAC has also fine-tuned proposals related to digital infrastructure development from the Malaysian Communications and Multimedia Commission. Another issue discussed by the council was the infrastructure sharing proposal to optimise existing expenditure and enabling broadband connectivity service in a shorter time.
“To ensure that the National Fiberisation and Connectivity Plan (NFCP) could be implemented according to target, all parties including service providers, state governments, ministries and related agencies are urged to give their full cooperation,” it said.
Meanwhile, the council expects 2020 to be more challenging amidst uncertainty in the world’s economy due to the ongoing US-China trade war and the prolonged regional geopolitical situation. It said tensions in the Middle East also appeared to affect global crude oil prices which will have an impact on the energy sector’s output. “This situation weakens investors’ confidence in investing in developing countries, thus affecting Malaysia’s economy,” said the EAC.