• 16. April 2020
  • 15:15
  • Economy

Malaysia's maritime transport proves to be very flexible

Marco Neelsen, CEO of the Port of Tanjung Pelepas, reports on the current situation in Malaysia. Tanjung Pelepas is located on the Pulai River on the Johor Strait, which provides direct access to the Malacca Strait.

Maritime shipping is only partially affected by the corona pandemic. Especially in intra-Asia traffic, there are currently enough alternatives available. The road transport of goods by truck, including cross-border transport, is currently significantly restricted and only permitted for essential goods.

As a result of COVID-19, goods production in Malaysia is very restricted, and Marco Neelsen estimates that it is currently on the level of 30 to 50 percent compared to the time before the pandemic. Since April 14, non-essential goods may also be produced again if certain requirements are met.

The International Monetary Fund (IMF) recently published a forecast predicting a 1.7 percent decline in Malaysia's gross domestic product (GDP) in 2020. However, for the following year, Malaysia's economy is forecast to grow strongly again by 9 percent. This is the highest value among ASEAN-5, which include Malaysia, Indonesia, Thailand, the Philippines, and Vietnam. Average growth in these countries is expected to reach 7.8 percent in 2021. The IMF's assumptions are based on the assumption that the global pandemic and its containment measures will not last much longer.

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