THE Associated Chinese Chambers of Commerce and Industry of Malaysia’s (ACCCIM) is ready to assist the government in preparing the Movement Control Order’s (MCO) exit strategy and explore the best ways to facilitate business operations.
Its president, Tan Sri Ter Leong Yap said while the stabilisation and recovery journey ahead continues to remain challenging, businesses would be able to regain momentum if they remain focused, coupled with timely facilitation support from government.
“We should start preparing an Economic Revival Plan to stabilise and turn around the economy and help businesses to restart,” he said, adding that ACCCIM’s think-tank, the Socio-Economic Research Centre (SERC) would submit a comprehensive Economic Revitalisation Plan to the government this week.
The SERC conducted a survey on April 13-21 to solicit feedback from the business community on the preparation of post-MCO’s exit strategy and also outline medium-and long-term measures to ensure economic revival and business sustainability.
Based on the feedback, the ACCCIM has proposed for the short-, medium- and long-term measures to include a reduction in company income tax rate for corporates and small and medium-sized enterprises and setting up a strategic national investment plan to resuscitate private investment, especially Domestic Direct Investment, among others.
It said that almost half of the 916 companies surveyed indicated that they need more than six months to recover.
Furthermore, it said almost 90% of businesses expect a post-MCO environment with conditions remaining in place such as safe distancing, wearing masks, sanitisation, as well as other measures that are critical to keep the public safe. – April 22, 2020, Bernama
