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As a part of the Short-Term Economic Recovery Plan which has been recently announced by Prime Minister Tan Sri Muhyiddin Yassin to alleviate the worst effects of the COVID-19 pandemic, the government of Malaysia is planning to establish the RM1.2 billion Penjana Nasional Fund.

The Malaysian government has launched several measures to mitigate the short-term impact of the COVID-19 outbreak. The first emergency stimulus package worth USD 4.8 billion has been issued in February 2020 to counter the economic impact.

Malaysia forecasts that by 2030 around 50% of its banking assets will be Islamic, as its growth surpasses conventional banking.

Malaysia’s tourism industry has seen an estimated RM 3 billion losses, particularly from cancellations and bookings caused by the COVID-19 outbreak.

MoA stated that the move will be taken following the DNA of the African Swine Fever (ASF) virus that was detected in the luncheon pork product in Sarawak.