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SOCAR CEO: Reduce barriers to entry for gig economy
KUALA LUMPUR, Nov 4 -- It is important for the government to continue supporting the gig economy and reduce the barriers to entry for Malaysians to enable them to reap the benefits.
SOCAR Malaysia chief executive officer Leon Foong thus urged the government to provide relief such as tax rebates, especially for the small and medium enterprises (SMEs) and micro-enterprises.
"We need to focus on the multiplier effects of investments, and one way to do this is to encourage greater investments in SMEs. The gig economy has created many opportunities...it has also created a new age of entrepreneurs," he said in a statement to highlight the company's wishlist for Budget 2021.
Foong said with the recent spike in COVID-19 cases and increase in unemployment rate, the gig economy is primed to fill the gaps by offering both income and job opportunities.
On that note, he said embracing the digital transformation is another way for the players to eventually contribute towards fiscal income.
"One way to do this is to lower transaction fees for new payment gateways and to reduce transactional costs for dispersing money to the people," he added.
-- BERNAMA
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