Tengku Zafrul: Budget 2022 to remain an expansionary budget
Budget 2022 will remain expansionary and is conceptualised as a recovery budget to support the government’s wider and longer term reform efforts under the 12th Malaysia Plan (12MP). Finance Minister Datuk Seri Tengku Zafrul Abdul Aziz said riding on Budget 2022’s three main areas of focus, the 3Rs, namely Recovery, Resilience and Reform, banks and financial institutions, including development financial institutions (DFIs), will play a critical role moving forward. “The year 2022 will be a critical year for Malaysia, a rare window to jumpstart not just an economic recovery, but the recovery of industries, livelihoods, and jobs, especially those hit hardest by the pandemic,” he said. As the health of the financial sector is tied to the wider economy, Tengku Zafrul said it is crucial that the banking industry doubles down on driving a strong economic recovery while supporting business continuity, especially in jumpstarting businesses when the economy reopens. (Malay Mail)
Fully vaccinated travellers can apply for home quarantine when entering Malaysia
Fully vaccinated travellers from overseas now have the option of home quarantine when they arrive in Malaysia, says the Health Ministry. This will only be allowed for those whose residence is considered suitable for home quarantine based on risk evaluation, and who have tested negative for Covid-19 with a PCR test. The travellers can apply for home quarantine beginning Sept 2 by visiting moh.gov.my. The application must be made seven to 10 days prior to the date of entry into Malaysia. The application will be processed within seven working days. Travellers arriving from Sept 28 are required to make an application through the new portal. (The Star)
Malaysia remains an attractive investment destination but political stability needed for growth
Malaysia remains an attractive investment destination but political stability needed for economic growth and investment, according to the recently concluded ASEAN Business Advisory Council (ASEAN-BAC) consultation meeting in Malaysia with business associations representing US businesses to discuss Malaysia’s efforts in attracting FDI from the US and its business communities. United States ambassador to Malaysia Brian D. McFeeters said Malaysia has long been and continues to be a key trading partner with the United States. U.S. companies consistently rank among the largest employers in states like Penang and most U.S. company subsidiaries are managed by Malaysians and employ over 90% Malaysian employees. Meanwhile, Malaysian Investment Development Authority (MIDA) Deputy CEO (Investment Promotion & Facilitation) Sivasuriyamoorthy Sundara Raja said investment intentions remain healthy and foreign investors’ confidence in Malaysia remains high. Malaysia is ranked the second most competitive country in ASEAN in the IMD’s World Competitiveness Yearbook 2021. (The Edge)
Hishammuddin: Interstate travel not part of trimmed SOP
The permission for interstate travel is not part of the trimmed standard operating procedures (SOP) of the National Recovery Plan (PPN), said Senior Defence Minister Datuk Seri Hishammuddin Hussein. He said the decision on matters related to interstate travel needed to be scrutinised by the Special Committee on Pandemic Management chaired by Prime Minister Datuk Seri Ismail Sabri Yaakob. “Interstate travel is related to the phases of the PPN. However, recommendations will come from ministers responsible for specific sectors which will then be considered at various levels,” he said. On September 14, Hishammuddin announced that the government was in the midst of reducing the PPN SOP from 181 to only 10 so that it is easily understood by the public. Hishammuddin said next week, Radzi was scheduled to give a briefing on the vaccination among students and the latest development in the reopening of schools in stages beginning October 3. (Malay Mail)
FT Ministry allocates RM15m to repair public infrastructure in Kuala Lumpur
The Ministry of Federal Territories has allocated RM15 million to repair and upgrade public infrastructure in Kuala Lumpur under the Strategic Programme to Empower People and the Economy 2.0 (Pemerkasa 2.0). Its minister Datuk Seri Shahidan Kassim said the allocation covered 26 small projects, the majority of which were in public housing (PA) areas and People’s Housing Projects (PPR) under the Kuala Lumpur City Hall (DBKL). The projects which include repainting buildings and reparing or replacing damaged basic infrastructure and public facilities are implemented in areas in need of immediate repair to ensure public safety. Shahidan said the government remained committed to providing a more conducive living environment to improve the quality of life of the people as well as stimulate the economy in the Federal Territorries to achieve the “My City My Home” goal. (Malay Mail)
