Global Crisis: Economy Ministry Focusing On Strengthening Economic Resilience

BATU KAWAN, May 8 (Bernama) -- The Economy Ministry is focusing on efforts to strengthen the nation’s economic resilience and safeguard the supply of key input materials amidst the ongoing global uncertainty and crises.

Its Minister, Akmal Nasrullah Mohd Nasir, said the ministry is adopting a multi-pronged approach, including addressing immediate needs while formulating long-term strategies to restructure the country’s economy.

“The immediate priority is to safeguard the security of key input supplies so that economic activities can continue smoothly.

“We also refer to the National Economic Action Council which meets weekly to assess the need for government intervention to further strengthen the country’s resilience in facing conflicts and global supply disruptions,” he said.

He was speaking to reporters after his working visit to three companies under the Malaysia Advanced Packaging Consortium (MAPC), alongside Science, Technology and Innovation Minister Chang Lih Kang and Deputy Investment, Trade and Industry Minister Sim Tze Tzin.

Akmal Nasrullah said the ministry is also looking at ways to restructure the economy to better withstand current challenges while building new capabilities for the future.

He said the ministry’s key priorities include managing the impact of ongoing global crises on the people and the broader economy, adding that the government is also focusing on long-term efforts to strengthen the country’s economic structure, while creating new growth opportunities and building technological capabilities.

“Ultimately, it is about ensuring the continuity of livelihoods by keeping economic activities going, while over the longer term, continuing to find ways to strengthen and restructure the economy to create better opportunities for the country,” he added.

-- BERNAMA