SEREMBAN: The government needs to start bolstering its domestic sectors, particularly local food production, to reduce its import bill and ride out the economic turbulence caused by Covid-19, says Datuk Seri Mohamad Hasan.
The Umno deputy president said the authorities should, among others, further develop the agriculture and agro-industry sector and aim for as much self-sufficiency as possible to preserve food security.
"Many Malaysians are worried that we are heading for a severe recession and one that could last longer than expected, leading into a depression and stagflation.The central bank had on April 3 projected Malaysia’s economic growth to be between - 2.0% and + 0.5% in 2020. "Hence, we should develop our agriculture and agro-industry aiming for as much self-sufficiency as possible," he said.
Mohamad said although Malaysia has the 29th longest coastline in the world and is 16th in terms of fish caught from captured fisheries, yet the country was still a net importer of fishery products.
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