KUALA LUMPUR, April 8 — The Malaysia retail industry can look forward to a strong recovery this year as the country is now in the transition to the endemic phase, said Transport Minister Datuk Seri Wee Ka Siong.
He said the brighter outlook would also be supported by the reopening of Malaysia’s land and air borders without any quarantine requirements for fully vaccinated travellers after two years.
“With the borders reopening and the gradual revival of more economic sectors, the Transport Ministry will continue to ensure the smooth operation of our ports, the logistics industry and other transport-related services as they all play an essential role in making sure supply chains run without any disruption.
“The ministry has been making sure for the past two years that logistics and supply chains are not overly hindered despite the impacts of the pandemic,” he said at the 30th Malaysia Retail Chain Association (MRCA) Anniversary Dinner today.
Malaysia’s retail industry recorded a year-on-year growth of 26.5 per cent for the fourth quarter of 2021, which was far above market projection of 18.3 per cent in November 2021 after the relaxation of restrictions took place in October 2021, Wee said based on the Malaysia Retail Industry Report released in March 2022.
This was mainly due to the two festive seasons — Christmas and the Chinese New Year — the latter of which was celebrated in early February, he added.
Approximately 800 guests from various sectors including retail, shopping mall management, property development, financial institution and other related sectors attended the event.
To date, MRCA has over 500 leading retail chain store operators, franchise businesses and other related businesses which represent over 30,000 outlets throughout the nation.
These members provide over 300,000 job opportunities for Malaysians across the country. — Bernama
