Entrepreneur looks to gradual economic growth in 2021
SIBU: Business entrepreneur Dr Gregory Hii Sui Cheng forsees a better year ahead while expecting the country’s economy to recover slowly in 2021.
He said car sales was starting to pick up in the fourth quarter of 2020 and is expected to continue an upward trend into the first quarter of 2021.
“With the availability of the Covid-19 vaccine, things are certainly looking brighter for the people next year or the Year of the Golden Boar,” he said when commenting on the economic outlook for next year.
Hii, who is Delta Leasing managing director, noted that business at coffee shops was starting to pick up and recover.
“People are starting to fly or travel and this is something the travel industry players, which is one of the hardest hit sectors during the Covid-19 outbreak, have been praying hard to recover,” he said.
Hii observed that optimism was returning gradually and even the stock market is on a growth trajectory.
“But for Sibu to see a brighter future, we must continue to see new investment in agriculture and industry sectors,” he added.
He was pleased to know that the government had continued to open up industrial lands for small and medium enterprises scheduled for completion by 2023.
“More land has also been set aside at Rantau Panjang to meet the growing demand of ship builders. Things are getting to move and all these will eventually help spur the economy, not only in Sibu but also nationwide.”
Looking back on difficult times in 2020, Hii said many industries were affected and some such as airlines and hotels were affected very badly.
“Many hotels even wind up for good despite the different financial help from the government and financial institutions.
“But with the gradual relaxation of MCO in the last quarter of 2020, things should prove to be better for 2021,” he continued.
The businessman said he hopes the government would consider the reduction of income tax by two percentage points favorably this year to put more money back in the hands of individuals and business enterprises.
“But the new normal is fragile. Covid-19 can mutate into 2nd or even 3rd waves. So my advice is for all to stay healthy and ensure compliance with the SOP,” he added.