THE Government’s announcement to re-open the country’s borders is seen to have an immediate and impact the country, especially the economy.
On that note, economists said the rippling effects will be widespread; reverberating across numerous sectors.
“Some immediate impacts that can be expected are increasing revenue in sectors such as hospitality, tourism, transportation, entertainment and aviation.
“With that, employment figures will also increase,” Universiti Putra Malaysia Business School Associate Professor Dr Razmen Abdul Latiff told FocusM.
A week ago, Prime Minister Datuk Seri Ismail Sabri Yaakob relaxed rules for the fully vaccinated, including allowing inter-state movements and travelling abroad.
Subsequently, National Recovery Council (NRC) chairman Tan Sri Muhyiddin Yassin said the Government was mulling to do away with quarantine or shorten it for full vaccinated travellers from select countries.
However, the measure would depend on mutual recognition of vaccine certificates as practised by several countries.
”This is a positive development which I think will revive economic activities, especially in the tourism sector, international conventions, retail and others.
”This will also give convenience to business travellers and social visitors arriving in our country.
”I hope the reopening of our borders, which is an integral aspect of our recovery, could be implemented soon and safely,” Muhyiddin told the press after chairing a council meeting here on Friday.
On that note, an economist from Universiti Kebangsaan Malaysia (UKM), who claimed anonymity, told FocusM another sector which will see an immediate positive impact was the retail industry.
“With the re-opening of borders, people will immediately spend and this will augur well on the retail sector.
“A moving domestic economy will bolster domestic consumption and this will stimulate the economy.” – Oct 16, 2021
