PM launches ‘Buy Malaysian’ drive in bid to spur Covid-hit economy

KUALA LUMPUR, Jul 19, 2020, Malay Mail. Prime Minister Tan Sri Muhyiddin Yassin announced a RM20 million infusion for the Buy Malaysian programme launched here this morning, amid the government’s effort to revive the local economy devastated by the Covid-19 outbreak, Malay Mail reported.

The promotion, held in conjunction with the annual nationwide Mega Sale, was initially to be part of Visit Malaysia 2020, the tourism drive meant to boost the country’s revenue this year.

But the government was forced to call off the campaign after the pandemic forced many countries and its governments to close off their borders.

Today, Muhyiddin said the Buy Malaysian programme and the RM20 million allocation were meant to help small and medium enterprises most, the sector hardest hit by the outbreak.

“Under this initiative, the government is focused more on empowering the domestic economy through the Buy Malaysian Products campaign,” Muhyiddin said at the launch event.

The RM20 million allocation is part of the latest round of stimulus the Muhyiddin administration disbursed in response to the outbreak.

Dubbed Penjana, an additional RM30 billion allocation was allocated mostly to help struggling SMEs. This was on top of the RM260 billion under the Prihatin package.

One of the allocation’s main goal is to facilitate the transition to e-commerce, Muhyiddin said.

Travel curbs imposed since March meant most SMEs had to shift their businesses online to survive, but most struggled to make the leap either because they lacked capital or the skills.

The prime minister said he hoped the fund would help bridge some of the gaps, including financing training programmes, an initiative outlined under the National e-Commerce Strategic Plan.

More than 37 ministries and agencies were mobilised to execute the plan, according to government information.

Muhyiddin said 322,834 SMEs and retailers will benefit from the training.