Azmin: No economic implications of coronavirus yet

Azmin: No economic implications of coronavirus yet

KUALA LUMPUR: Economic Affairs Minister Datuk Seri Mohamed Azmin Ali said the 2019 novel coronavirus outbreak has not shown any implications on Malaysia’s economy so far but it would affect the nation’s growth if the outbreak continues to spread.

He also said there is no necessity yet for Malaysia to temporarily stop the imports of products from China, particularly Wuhan, and the government had taken various proactive measures to contain the outbreak and monitor it closely.

“As what happened with the other outbreaks previously, if (the contagion) continues, it would definitely have an impact on the nation’s economy.

“However, I do not want to make any speculation because this is a serious matter that needs to be monitored by the related agencies and ministry. We will take the information and advice from them on the next move we should take,” he said.

Azmin said this to reporters after witnessing the signing of a strategic cooperation between Petroliam Nasional Bhd and Agrobank here, today.

Malaysia has reported four cases of coronavirus after the outbreak spread in Wuhan, China.

Commenting on the performance of the ringgit and stock market which were weaker compared with regional markets, Azmin said Malaysia’s economic fundamentals are still strong and investors are confident of selecting the country as a strategic investment destination.

He said the government had implemented various initiatives to restore investors’ confidence by making Malaysia as the gateway to ASEAN.

“From the statistics that we get, investors’ confidence have returned to Malaysia and the recent announcement of the Transparency International’s Corruption Perception Index would definitely help in restoring investor’s confidence.

“Our fundamentals remain strong and now investor’s confidence is back to Malaysia, that’s why we feel 2020 will be a better year for Malaysia in terms of economic growth,” he added.


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