PUTRAJAYA: Malaysia's capital market remains stable after even after a state of emergency was declared nationwide until Aug 1, said Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
"We had net foreign inflow in the stock market in early January. Before that, December marked the eighth consecutive month of bond market foreign inflow.
"The Ringgit is still at a multi-year high against the US dollar.
"I believe the confidence is there, and I assure that we will do the right thing which is to provide the balance in protecting lives and livelihood," said Tengku Zafrul during a media briefing on the Perlindungan Ekonomi dan Rakyat Malaysia (Permai) assistance package today.
The government, said Tengku Zafrul, has formulated several initiatives that have been announced under the Economic Recovery Plan (Penjana) and 2021 Budget to draw foreign investors and subsequently stimulate economic growth for the country amid the challenging period brought about by the global Covid-19 pandemic.
"Domestically, the government has announced RM15 billion in allocation for main infrastructure projects. In addition, RM2.7 billion would be allocated to carry out infrastructure projects in the rural areas," he said.
Tengku Zafrul, however, stressed that public health is key to economic recovery.
"Ultimately, the country's economic recovery path hinges on the ongoing efforts and compliance with the standard operating procedures (SOP) among the people to prevent the virus outbreak from escalating.
"We are taking the necessary steps with strict SOP. The vaccine rollout this quarter will support this case," he said.