Last year, online travel contributed about 50% to the country’s gross merchandise value.
This ratio is lower among female, non-regular, and low-income workers.
Actions will be implemented in three overlapping phases over the next two years.
Cash flow disruptions were cited by SMEs as the main challenge.
The tax relief package is expected to benefit over 11 million Australians. as the country attempts to recover from the pandemic.
The new guidelines cut compliance for the IT industry, removing reporting obligations for firms, and easing the way for WFH to take place.
Workers in their 30s have been hit the hardest, with the unemployment rate exceeding 70% for this group.
Malaysian graduates are either unemployed six months after completing their studies, or are taking jobs they are overskilled for.
By 2025, the country also aims to be a high-income nation, as 373 million citizens continue to live below the upper-middle-income poverty line.
The move is a bid to raise employment numbers among foreign graduates in the country.
The country’s Budget 2021 will also allocate RM$2 billion (US$582 million) for hiring incentives as Malaysia continues its economic recovery.