Finance Ministry: Continuity of specific, strategic economic sectors crucial to keep Malaysia competitive

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PETALING JAYA: Specific economic sectors need to stay open for the general public's well-being and supply chain continuity for essential products and services, says the Finance Ministry.

Noting the need to contain the Covid-19 pandemic efficiently, the ministry said there is also a need to prevent any disruption that could threaten the continued production of goods and services required by essential industries.

"For the supply chain to function smoothly, these elements need to work in tandem to ensure efficiency," it added. The ministry also said Malaysia is a key player in the E&E global value chain, representing 40% or RM386bil of Malaysia's annual exports and approximately 7% of the world's semiconductor trade.

"As such, even the short-term closure of the E&E sector could disrupt supplies from Malaysia and jeopardise essential goods not only in Malaysia, but also the rest of the world," the statement read. It gave an assurance that the government would, through enhanced monitoring and enforcement, ensure that factories strictly comply with SOPs.

 

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