Get ready to cash in on revenge spending, says Wee
Kuala lumpur: As the world gradually recovers from the ravages of the Covid-19 pandemic, “revenge spending” is expected and Malaysia must be ready to seize the opportunity for its economic revival, says Datuk Seri Dr Wee Ka Siong.
The MCA president said consumers would compensate for lost time with a surge of people going out for entertainment and shopping, dining out and travelling following the long suppression during the various stages of the movement control order.
“All these will help to revive the service, retail, tourism and manufacturing industries, ” he said when opening the party’s 67th annual general meeting yesterday.
Dr Wee said even though there would still be challenges and uncertainties in a post-pandemic economy, it would also be a crucial time for economic rebound and revival.
“Many countries are eyeing this golden opportunity by planning immunisation programmes.
“They allow those in essential services to be given priority for vaccination so that important sectors are able to open up ahead of other countries.
“This is to ensure that those with the advantage will move the country’s economy towards a full revival with minimal effort.
“Our country must not lag behind or we will miss the golden opportunity for economic revival, ” he said.
Dr Wee also said that even though the Perikatan Nasional government was ruling with a simple majority, most of its Cabinet members had a wealth of experience.
“The government may not be perfect but we have never and will never put the people’s lives at risk. We are doing all we can to ensure that their livelihoods and the economy are not affected, ” he said.
Dr Wee called on lawmakers from both sides of the divide to prioritise economic revival.
“Both sides must utilise all resources and use our strengths to help the people and the business community. The most urgent task is to put aside political differences to protect lives and livelihoods.
“This will help us to adapt to a post-pandemic era to start over and move towards a better future, ” he said.