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Malaysia economy news: V-shaped recovery very unlikely to happen in Malaysia

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Malaysia economy news

Malaysia economy news: Malaysia’s economic outlook may improve this year, but it may not see a V-shaped recovery even after the launching of the COVID-19 vaccination programme.

Malaysia economy news

Institute of Strategic and International Studies Malaysia economics, trade and regional integration division fellow Dr Juita Mohamad

Dr Juita Mohamad said Malaysia might face challenges for those who oppose the vaccination and its effectiveness.

Problems to reach those in underdeveloped areas may arise for the programme while vaccines distributed out in three phases. It would be hard for the government to achieve its aim of vaccinating 80% of the population.

Juita mentioned that outreach to the urban versus the rural area would be a bit difficult due to the nature of Malaysia’s geographic standing. She added that there are also problems regarding to the “non-believers” and anti-vaxxers that question the halal status of this vaccine.

In her opinion, we might not see such a smooth acceptance of the vaccination programme. In fact, a V-shaped recovery is highly unlikely, but it would be better than last year.

Previously, Khairy Jamaluddin Abu Bakar, Minister of Science, Technology and Innovation said that the first recipient of the Pfizer Inc vaccine will be Prime Minister Tan Sri Muhyiddin Yassin.

Three phases of the vaccination programme

First phase: Vaccines will be given from February to April to frontliners who have been directly involved with infected patients.

Second phase: Vaccines will be given from April to August to individuals in the high-risk group, like senior citizens aged 60 and above, persons with disabilities and those who have health problems.

Third phase: Vaccines will be given from May to February 2022 for individuals aged 18 and above.

Overcome the digital divide

Business today Malaysia: Meanwhile, Dr Fajar Hirawan, CSIS Indonesia department of economics senior researcher said the economic recovery in the Asean region doesn’t just depend on the vaccination programme. However, the economic stimulus measures also contribute in facilitating the recovery.

“With the accommodation of technology, we are trying to improve small and medium enterprises (MSMEs). However, there’s a digital divide,” he said.

To overcome that, we need to have sufficient physical infrastructure to enable the general public to optimize internet usage. Responding to digital inclusivity, The government has to ensure there’s available financing for the training of MSMEs along with investments.

“Digital trade should benefit all especially the MSME community. I think we have made many efforts thanks to ASEAN and the Regional Comprehensive Economic Partnership (RCEP).

In RCEP, there’s a special provision on MSMEs and seems like we’re doing right in promoting less inequality,” she added.

 

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V-shaped recovery highly unlikely for Malaysia

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