Economy Minister outlines proactive strategy to shield Malaysia’s economy from prolonged global energy crisis and supply chain disruptions
NILAI: The government is taking a proactive approach to assess the global energy crisis through medium-term planning. This strategy aims to ensure the country’s economic stability remains strong and protected.
Economy Minister Akmal Nasrullah Mohd Nasir said the ministry expects the ongoing conflict to last at least six months. Initial plans have been drawn up to deal with any eventuality.
“The ministry expects that the conflict will last six months at the earliest…if not, the effects may extend to a year,” he told reporters. He added that planning and preparation therefore need to look at the medium term.
He was speaking after visiting the Malaysia Vision Valley project site in Negeri Sembilan. The minister said the government is looking into interventions to resolve urgent priorities as effectively as possible.
The ministry is conducting comprehensive monitoring using data dashboards and direct industry feedback. Akmal noted the crisis has a knock-on effect on supply chains dependent on diesel, oil and gas.
This forces industries to face new challenges and seek alternative supply sources. “We want to ensure that the impact or reaction does not completely disrupt economic activities,” he said.
The focus is on maintaining economic activity and growth indicators like consumer spending. Investment from both the private sector and government is also crucial to continue infrastructure development.
Akmal said his ministry assesses medium-term matters from a macro perspective. Other ministries and agencies will evaluate the direct impact in greater depth.
During his visit, he reviewed the RM557.5 million Nilai-Labu to Bandar Enstek road project. It is scheduled for completion in the first quarter of next year.
The project aims to improve the road network in an important growth corridor. It will benefit users through smoother travel, reduced congestion and better access to key economic areas.
Akmal stressed the need for strong coordination to keep projects on schedule. Delays must be avoided, especially during the current challenging global circumstances.
“We cannot allow delays to continue,” he said. He urged for quick, integrated and pragmatic resolution of any issues to ensure projects are completed on time.
