Special Cabinet Committee formed to develop strategic measures in safeguarding Malaysia’s economy and labour market impacted by COVID-19

KUALA LUMPUR 2 April 2020 – Special Cabinet Committee has been formed 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).

According to Ministry of International Trade & Industry (MITI) in a media statement issued today, the Cabinet Meeting held on 1 April 2020 has agreed to establish the committee. The 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.

“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.

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.” said MITI.

The Ministry also added that the Committee is scheduled to convene on Friday, 3 April 2020 and set to hold its second meeting on Sunday, 5 April 2020 and then will report its recommendations to the Prime Minister YAB Tan Sri Muhyiddin Yassin during the Economic Action Council (EAC) meeting on Monday, 6 April 2020.