Malaysia considers stimulus package to deal with coronavirus
The Malaysian Government is evaluating the need for an economic stimulus package and is ready to launch measures to deal with the effects of the 2019 novel coronavirus if necessary, according to Finance Minister Lim Guan Eng.
Malaysia is considering a stimulus package to deal with coronavirus. (Photo: thestar.com.my)
Kuala Lumpur (VNA) – The Malaysian Government is evaluating theneed for an economic stimulus package and is ready to launch measures to dealwith the effects of the 2019 novel coronavirus if necessary, according to FinanceMinister Lim Guan Eng.
At a press conference on January 30, he said that it is important to focus andsupport the efforts and measures taken by the Health Ministry to keep peoplesafe and free from the virus.
Prior to the coronavirus outbreak, the government had already planned measuresto address the US-China trade war by introducing an economic stimulus package,and it may bring forward the package due to the virus outbreak.
Malaysia is a favoured destination among Chinesetourists, with around 2-3 million visiting each year. As the host of the APEC2020 meeting, Malaysia launched the “Visit Malaysia 2020” campaign to attract30 million foreign visitors this year.
The virus could affect the country’s target as well as its fiscal policy.However, Lim was waiting to adjust its fiscal policy, and still forecasteconomic growth for this year.
Malaysia has confirmed eight coronavirus cases, while 89 others who had closecontact with those infected have been placed under compulsory observation.
In a bid to prevent an outbreak, Malaysia has temporarily suspended visas forall residents of China’s Hubei province. Fourteen tourists from Wuhan, whoarrived in the country via Kuala Lumpur International Airport on January 28,were sent back home.
President Mahathir Mohamad said Malaysia stands ready to evacuate its citizensfrom Wuhan if Chinese authorities agree.
Sweden’s IKEA said on January 31 that it has temporarily closed all 30 storesin China because of the outbreak.
Around 14,000 Chinese employers will be on paid leave until further notice./.
Property giant CapitaLand and other Singapore firms have temporarily closed, shortened working hours or shut certain business activities at their malls in China, due to concern over the viral spread of coronavirus.
Three Vietnamese citizens returning from China's Wuhan city tested positive for coronavirus (nCoV) as of January 30 afternoon, bringing the total number of nCoV cases detected in the country to five, reported the Ministry of Health.
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
Malaysia is considering a stimulus package to deal with coronavirus. (Photo: thestar.com.my) 
