JOHOR BARU, April 15 — The Johor government will set up an economic advisory committee to formulate and recommend economic reform plans to facilitate post-Covid-19 recovery efforts in the state.
Johor Mentri Besar Datuk Hasni Mohammad said the authorities have taken necessary measures with a view to accelerating the economy.
“As such, the Johor government has decided to set up an advisory committee on the economy, known as the State Economic Reform Committee (SERC),” said Hasni in a statement issued today.
Hasni explained that the SERC will formulate and recommend the types of economic reform plans to the state government which will have policies, procedures and strategic directions aimed at reforming Johor’s economy post-Covid-19.
He said the SERC has several objectives, such as advising the state government on short, medium and long term policies, procedures and strategies related to the Johor economy.
“The committee will advise the state government on new economic areas, regional cooperation and high impact initiatives to create a sustainable economic ecosystem.
“It will also provide improvement and recommendations for the Johor Sustainable Development Plan 2030 in the context of the Covid-19 pandemic,” said Hasni.
Hasni, who is also the Benut assemblyman, said the SERC will comprise a number of influential individuals and industry-leading players.
“This advisory committee will be chaired by the Johor mentri besar where the economic reform report will be submitted for further action by several state government agencies.
“The SERC is expected to start meeting by next week to evaluate the current economic challenges and to identify the future direction of the Johor state economy post the Covid-19 pandemic,” said Hasni.
Meanwhile, Hasni said the state government has also agreed to set up a digital bank in an effort to boost its digital economy.
“The existence of the digital bank will make the financial sector more inclusive and capable of providing better quality financial services and accountability for all market segments.
“For our part, digital banking, particularly in the areas of financial technology or fintech, is growing rapidly. In 2014, 52 per cent of the South-east Asian population used online banking services and the figure is increasing,” said Hasni.
The Covid-19 pandemic has put most countries around the world on lockdown and has crippled economic activity across the globe.
Last Friday, the government's Economic Action Council (EAC) has started work on a post-Covid-19 recovery plan. It is engaging various stakeholders to come up with a draft plan to be released in a couple of weeks.
