FMM: Transition to Endemic Phase set to bolster businesses, economy

KUALA LUMPUR: The exit strategy to move Malaysia into the transition to endemic phase of COVID-19 on April 1 comes at the opportune time to further bolster businesses and the economy, the Federation of Malaysian Manufacturers (FMM) said.

The reopening of international borders for fully vaccinated travellers at this juncture is lauded and fully supported as facilitating human capital movement for work and trade will have a positive impact on the recovery of industries, as well as help address the unemployment caused by the pandemic, it said.

"Allowing international border crossing for fully vaccinated persons will not only help reinvigorate tourism activities but will also further stimulate manufacturing sector activities.

"As part of their business revival, many companies are now seeking new business opportunities, diversification of business and products, and exploring new markets," FMM president Tan Sri Soh Thian Lai said in a statement.

The federation said the reopening of international borders will allow its personnel to travel overseas to meet buyers and promote their products, as well as enable their business partners/customers, vendors and technical experts to be physically present here to seal the negotiations, as well as to commission projects.

Based on the FMM-Malaysian Institute of Economic Research (MIER) Business Conditions Survey 2H2022, it said respondents indicated that heading into 2022, growing external demand is expected to improve the manufacturing sector's recovery considerably.

-- BERNAMA