The government will provide economic assistance for tourism, aviation, and retail sectors

By TIN Media | Tourism Malaysia Published 4 years ago on 22 February 2020
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KUALA LUMPUR :

The Government will provide direct assistance to businesses affected by COVID-19 through an economic stimulus package to be announced next Thursday.

The affected business covers three sectors namely tourism, retail and aviation.

Deputy Minister of International Trade and Industry, Dr Ong Kian Ming, said details of the direct assistance would be announced by the Prime Minister next week.

"The worst affected businesses can expect the government to provide more direct assistance to them in three sectors namely tourism, retail and aviation.

"So, for the industry to be included as an example of a business event, we believe it will be considered in the economic stimulus package," he said.

He was speaking to reporters after attending the launch of the Smart Trade Zone (STZ) at the International Exhibition and Trade Center of Malaysia (MITEC) here today.

Also present was MITEC Chief Executive Officer Gunther Beissel.

The STZ platform is a facility that provides centralized locations for entrepreneurs in line with their efforts to help expand any of the business potentials at MITEC.

In another development, Kian Ming said he expects the business to recover quickly in the second half of this year and the company needs to be prepared.

"It is undeniable that many events including major conventions had to be postponed including the internationally recognized International Halal Exhibition (MIHAS) at the regional and international levels.

"I think this is a wise move as many potential customers and exhibitors are still worried about coming to Malaysia at this time.

"But I expect (business) to recover quickly in the second half of this year," he said.

The MIHAS 2020 scheduled for April 1 to 4 is postponed to September 1 to 4.

Malaysia External Trade Development Corporation (MATRADE) in a statement said the delay was based on safety and health factors due to the transmission of COVID-19.

Beissel, meanwhile, said the STZ was created as an initiative to meet market and industry demand.

"The tourism industry is a key contributor to the country's third-largest economic growth factor after the manufacturing and goods industry.

"Given the capabilities we have by providing location rentals for any business program and various facilities for that purpose, it is also hoped that it will create more business opportunities that will lead to more trade and investment for the country," he said.


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