June 19, 2024

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Government hears SMEs and forms Special Committee to strategize help


KUALA LUMPUR, April 2 – The Cabinet Meeting held on 1 April 2020 has agreed to establish a Special Cabinet Committee to develop strategic measures in safeguarding Malaysia’s economy and labour market impacted by COVID-19 with the aim of striking a balance between the nation’s economic priorities and the effective enforcement of the Movement Control Order (MCO).

In a statement this morning, the Ministry of International Trade and Industry also said that other key focus areas of the Committee include measures to sustain Malaysia’s economic engines particularly the Small and Medium Enterprises (SMEs) during the MCO and ensure effective  mitigation efforts in addressing displacement of labour force among Malaysians.

“The inception of the Committee also reflects the Government’s quick response to address issues highlighted by the Rakyat and the Malaysian business community.

“The Special Cabinet Committee will be co-chaired by Senior Minister and Minister of International Trade & Industry YB Dato’ Seri Mohamed Azmin Bin Ali and Senior Minister and Minister of Defence YB Dato’ Sri Ismail Sabri Bin Yaakob.

“Members of the Special Committee will also comprise those involved in the nation’s economy and security.” MITI said.

In addition, the Ministry of International Trade & Industry (MITI) will be engaging with industry players from various sectors to gather insights from people on the ground.

“This effort is key to ensure the Committee will address specific issues facing the business community particularly, SMEs, manufacturers and investors.

“They are scheduled to convene on Friday, 3 April 2020 and set to hold its second meeting on Sunday, 5 April 2020.” MITI said further.

MITI also said that Committee will then report its 2 recommendations to the Prime Minister YAB Tan Sri Muhyiddin Yassin during the Economic Action Council (EAC) meeting on Monday, 6 April 2020.