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Still a long road to recovery, say business groups

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Relaxed rules should prevent devastation, but restricted movement will continue to hold back the local economy. FMTNews MCO MCCI Economy Business Covid19

MCOs and district and border closures will continue to weigh heavily on the economy.

Shaun Cheah, executive director of the Malaysian International Chamber of Commerce and Industry, said the various movement control orders imposed this year had been more relaxed than in last March. Because of this, he told FMT, the hit taken by the economy would not be as devastating. “Economic activity depends a lot on the movement of people, with domestic tourism providing a trickle-down effect to the broader domestic economy,” he said.

Nigel Wong, secretary-general of the Malaysian Association of Tour and Travel Agents, said it would be wrong to say the bad times are behind the tourism industry. It was currently at “rock bottom”.

 

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