MALAYSIA’s economy is expected to continue its recovery path in the early months of 2021, according to the Department of Statistics Malaysia (DOSM).
Its chief statistician Datuk Seri Dr Mohd Uzir Mahidin believed that the Government’s policies and initiatives have supported the stabilisation of the labour market condition, which led to the gradual improvement in the first place.
He also mentioned that it is crucial to find the right solution and targeted approach when it comes to curbing the spread of COVID-19 to ensure that industry players would not be hugely impacted.
“Malaysia’s economy is gradually recovering as the current pandemic situation is still controllable with the strict standard operating procedures (SOPs) set by the Government,” he said.
However, Mohd Uzir hopes that there will be more strategised efforts on promoting entrepreneurship as an income source and producing job creators as opposed to job seekers, especially among youths.
Additionally, he also noted that the Government’s decision to permit inter-district and interstate travel has the potential to boost domestic tourism activities.
While he highlighted that the COVID-19 pandemic was a blessing in disguise for the e-commerce sector as online purchases increased tremendously, Mohd Uzir said that the trend also helped boost post and courier service providers’ revenue.
“Entrepreneurs in the informal sectors, such as food, clothing and handcrafted item sellers have actively adapted to using these platforms in creative ways through the social media, which attributed to the mushrooming of these activities,” he said.
“Nevertheless, more proactive approaches are needed for the sustainability of their livelihood,” he added. – Dec 24, 2020
