by BERNAMA/ pic credit: mpc.gov.my
THE imposition of the Movement Control Order (MCO) has compelled many industries to leverage technology faster to ensure business sustainability and delivery, according to a study conducted by the Malaysia Productivity Corporation (MPC).
In its study on COVID-19’s impact on productivity, the MPC said that the data it had collected also indicated that it would take six months for businesses to recover post-COVID-19 crisis.
In a statement today, director-general Datuk Abdul Latif Abu Seman said the MPC has taken several steps to accelerate economic recovery and assist industry players in rebuilding businesses.
“Among the notable initiatives taken and still ongoing are industry capacity and capability building programmes via webinars and online trainings, business virtual advisory services, and review of regulations to reduce unnecessary burdens in rebuilding businesses.
“Efforts are still ongoing to hasten and catalyse economic recovery and productivity growth as business activities begin to increase during the Conditional Movement Control Order,” he said.
The study also revealed that more than 70 per cent of the respondents had been adversely affected by the pandemic following the imposition of the MCO, especially in terms of revenue streams.