Approximately 80,000 people have been infected with the disease worldwide with more than 2,800 deaths recorded mostly in China.
Dr Mahathir said the most immediate economic impact of COVID-19 has been the sharp decline in tourist arrivals throughout the region as hotels, airlines, travel companies and more broadly the tourism-dependent retail industry have been badly affected. To mitigate the impact, the government will take a three-pronged approach – first, to ease the cash flow of affected businesses; second, to assist affected individuals; and third, to stimulate demand for travel and tourism.
The government will also expedite the implementation of development projects worth RM21 billion involving government-linked companies and public agencies. Dr Mahathir said to enhance greater national competitiveness, the government will promote higher value-added private sector investments in several ways.
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