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ASEAN needs cohesive plan to shore up investments, create jobs, says Muhyiddin

ASEAN needs cohesive plan to shore up investments, create jobs, says Muhyiddin

ASEAN
governments must materialise cohesive plans to quickly implement measures or
“travel bubbles” between “green” member states amid the Covid-19
pandemic to shore up investments and create job opportunities, Prime Minister
Tan Sri Muhyiddin Yassin said today.

Possibly
in the near future, the region can also open up the borders for intra-ASEAN
tourism to flourish and deliver the much-needed financial boost into the
national economies, he said.

“The
public health crisis has had profound impacts on the economy and rebooting our
regional economy must be our utmost priority to mitigate disruptions to trade
and strengthen the resilience of our regional supply chains,” he said at the
36th edition of the ASEAN Summit that was held virtually due to Covid-19.

Vietnam’s
Prime Minister Nguyen Xuan Phuc chaired the meeting. Vietnam is the ASEAN chair
for 2020.

“Malaysia
feels very strongly that our governments must materialise cohesive plans to
quickly implement measures or ‘travel bubbles’ between ‘green’ ASEAN Member
States to shore up investments and create job opportunities for our people,”
Muhyiddin said.

As proposed by Malaysia in April, ASEAN must
formulate a Regional Economic Recovery Plan, the Prime Minister stressed: “If
we don’t protect our regional economies, wider disparity in growth among the
ASEAN countries may harm our objective of greater economic integration.”

The
region must act swiftly and decisively in coordinating a regional level
response in revitalising the economies, he said, adding that, “A
well-coordinated response will ensure we emerge this crisis stronger together,
much like how we have weathered previous crises”.

Muhyiddin
also said that together with other ASEAN colleagues, Malaysia will also work
towards the conclusion and signing of the Regional Comprehensive Economic Partnership
(RCEP) this year.

“Malaysia
stands ready to engage with India on the latter’s continued participation in
the RCEP, which we believe would contribute to regional prosperity,” he said.

Source: Bernama 

Posted on : 26 June 2020
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