Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah has expressed his confident in Putrajaya’s capability to minimise the negative economic impact on the country.
“The country is now facing the uncertain global economic conditions, fall in crude oil prices, trade wars particularly between the United States and People’s Republic of China, restrictions and trade barriers imposed by certain countries, commodities associated with environmental issues, political unrest in several nations and the recent outbreak of Covid-19,” he said.
“All these challenges have affected Malaysia as an open economy. In this matter, We are confident that Our Government will continue to minimise any negative impacts on the people and the nation.”
He also urged employers to not lay-off their workers indiscriminately as he opines this is the time for everyone to make small sacrifices to help the employees and to support the nation’s economy.
The King has also stated that Putrajaya will continue to plan, introduce and implement various programmes and initiatives to boost economic activities aimed at increasing the income and well-being of the people.
“Moving forward, the Shared Prosperity Vision 2030 will be a catalyst in charting a new direction for national development,” he said.
According to his majesty, the vision aims to enable citizens from all walks of life to enjoy a decent standard of living with a just, equitable and inclusive economy. He also highlights that the gap in economy and development among various income groups, regions, ethnics and supply chains will be reduced.
“The Twelfth Malaysia Plan, which will be tabled in this august house, is the first phase of the Shared Prosperity Vision 2030. We believe that the policies and strategies formulated under this plan with the participation of various groups of society, will further spur the nation’s economic and development growth for the benefit of the people.”