The country's three main economic sectors, namely manufacturing, construction and agriculture that have been hit hard by the COVID-19 pandemic, have gradually recovered, said Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed.
He said even though the private construction sector is still struggling, works for government projects which had recontinued had enabled many construction companies to restart their operations.
"On the whole, Malaysia's economy is still facing challenges but there are already signs of recovery," he told a media conference after holding a meeting with the Regional Corridor Development Authority (Recoda) and the business community in the state here, today.
Mustapa said the tourism and other services sectors including professional services and retail sector were adversely affected during the pandemic.
According to him, although the domestic tourism had shown a slight recovery, it cannot recover completely as the international tourism has not reopened.
Besides that, he said the unemployment rate in May had also indicated a recovery, registering 5.3 per cent at the national level, and this is expected to continue recovering this month.
Meanwhile, Mustapa said he was confident the progress in Sarawak as well as the good cooperation between the state and Federal governments would lead to bigger development.
He said Sarawak's focus is on digital economy and environmental sustainability which are the mainstay of the state's development.
"The Sarawak state government has provided incentives and packages worth RM2.5 billion to help the people especially the B40 group and small and medium enterprises in the state, making it the biggest package offered compared to other states," he said.
Additionally, he said, the Sarawak state government had development plans for cross-border trade with Indonesia and Brunei, which has huge potential, when Indonesia relocates its capital city from Jakarta to East Kalimantan.
"Foreign companies including from Japan and China will increase their investments in this state, which means the investment sector in the state will expand rapidly," said Mustapa.
-- BERNAMA
Bernama
Sat Jul 18 2020
Mustapa said the tourism and other services sectors including professional services and retail sector were adversely affected during the pandemic. - Filepic/BERNAMA
Pengurus rumah kebajikan didenda RM4,500 cederakan warga emas
Seorang pengurus rumah kebajikan didenda RM4,500 selepas mengaku bersalah mendatangkan kecederaan kepada seorang warga emas.
Amiruddin nafi rumah terbuka langgar peraturan pilihan raya
Menteri Besar Selangor Datuk Seri Amirudin Shari menafikan dakwaan bahawa penganjuran Rumah Terbuka Aidilfitri oleh kerajaan negeri di pekan Kuala Kubu Baharu (KKB) pada Sabtu, melanggar peruntukan Akta Kesalahan Pilihan Raya 1954.
Misi teroka peluang ekonomi, tarik pelaburan baharu di WEF - Anwar
Malaysia dalam misi meneroka pelbagai peluang ekonomi dan menarik pelaburan baharu pada Mesyuarat Khas Forum Ekonomi Dunia (WEF) di Riyadh, Arab Saudi yang akan berlangsung dua hari bermula hari ini.
Polis Jerman rampas 4 Bugatti Veyron
Jerman merampas empat kereta model Bugatti Veyron yang jarang ditemui dari kemudahan simpanan persendirian di Munich, Jerman, yang dikaitkan dengan skandal 1Malaysia Development Berhad (1MDB), menurut laporan media Jerman.
AWANI Ringkas: Dijangka diniagakan sekitar RM4.77 berbanding dolar AS
Ikuti rangkuman berita utama yang menjadi tumpuan sepanjang hari di Astro AWANI menerusi AWANI Ringkas.
Mutawif pimpin jemaah 'istimewa' tunai umrah guna tongkat
Menjadi impian umat Islam di seluruh dunia termasuk golongan kurang upaya untuk menjejakkan kaki ke tanah suci Makkah bagi menunaikan ibadah haji dan umrah.
Pelajar maut motosikal bertembung kereta
Seorang pelajar maut selepas motosikal yang ditunggangnya bertembung dengan sebuah kereta dalam kejadian di Marang.
Cef ternama Singapura, Tariq Helou meninggal dunia pada usia 29 tahun
Pemergian cef Helou mengejutkan seluruh komuniti kulinari di Singapura.
EPL: Man United sama hebat dengan skuad tercorot liga
Penjaga gol Manchester United, Andre Onana menjadi punca buat pasukannya kehilangan kemenangan menentang Burnley.
Pedofilia MRSM Tumpat: Polis selesai panggil 14 individu
Polis selesai memanggil 14 individu untuk dirakam keterangan berhubung kes pedofilia melibatkan seorang guru di Maktab Rendah Sains Mara (MRSM) di Tumpat.
Pertanian adalah perniagaan
MAHA 2014 merupakan pameran pertanian tertua, terbesar dan unik di Malaysia. Ikuti infografik berikut bagi memahami pameran pertanian dwi-tahunan terbesar ini dengan lebih lanjut.