THE EDGE MARKETS – 17/6/2021

National Recovery Plan seen as timely, will lead Malaysia towards normalcy

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KUALA LUMPUR (June 16): The Government announcement of the National Recovery Plan (NRP) is viewed as a strategic initiative and timely and will direct the country towards normalcy and sustainable economic development.

Bank Pembangunan Malaysia Bhd (BPMB) president and group chief executive officer (CEO) Arshad Mohamed Ismail said the comprehensive measures introduced, particularly the acceleration of the nationwide vaccination programme are certainly critical to national recovery.

"The four-phase exit strategy provides a clear and concrete direction for the economy.

"In addition, the plan reaffirms the Government’s commitment towards achieving herd immunity by year-end, further boosting confidence in the financial markets and among industry players,” he said in a statement today.

The plan, which was announced by Prime Minister Tan Sri Muhyiddin Yassin yesterday, is a strategy to transition out of the Covid-19 crisis over four phases.

Agrobank covering president/CEO Khadijah Iskandar said the exit strategy unveiled by the Prime Minister shows a strong commitment by the Government to help the country completely recover from the pandemic and to ensure all sectors gradually return to normal.

"The exit strategy outlined by the Government is well structured with a reasonable time frame towards the recovery of both health and economy sectors throughout the four phases, therefore proper execution and support from all Malaysians are significant to ensure the nation gain victory from this global crisis," she added.

Meanwhile, Malaysia’s lead agency in digital transformation, Malaysia Digital Economy Corporation (MDEC) is optimistic about the digital economy’s prospects following the announcement of the NRP.

"MDEC is fully focused on accelerating the digital transformation of the nation and strengthening our programmes across the board which will play a crucial role in our exit strategy from the Covid-19 crisis.

"The digital adoption will better equip society and businesses to navigate in the new norm, enabling sustainability and growth in the long run," it said.