APIB: Room for improvement in Budget 2021

KUALA LUMPUR, Nov 17 -- Budget 2021 could be improved by increasing its focus on critical areas which are key to the country's economic recovery, says Asia Pacific Investment Bank (APIB).

Chief executive officer Chris Wang said the lack of allocation for cutting-edge technology infrastructure spending in the budget would curb the swift adoption of the fifth-generation mobile network (5G), artificial intelligence (AI), big data and other internet technologies, among others.

“It is great that Budget 2021 provides for an allocation of RM1 billion as a special incentive package for high value-added technology, in addition to Bank Negara Malaysia’s High Technology Fund worth RM500 million to support high-tech, innovative companies.

“However, almost zero allocation is made to build infrastructures that will further enable the implementation of new technologies," he said in a statement today.

Wang said new tax incentives for the establishment of a “global trading centre” at a concession rate of 10 per cent for five years would not be strong enough to support local companies to expand globally.

"This is especially so in light of the recent signing of the Regional Comprehensive Economic Partnership (RCEP) between 10 ASEAN countries and Australia, China, Japan, South Korea and New Zealand.

“Malaysia will soon usher in a more open and competitive market, hence government support for trading companies, especially small and medium enterprises, is urgent,” he said.

Additionally, Wang said Budget 2021 could have also considered further reducing institutional transaction costs, including banks providing a further extension of credit and interest subsidies to businesses to ease their cash flow pressure.

-- BERNAMA







 
 
Budget 2021: MoT to provide incentives to lighten people’s burden - Wee 

KUALA LUMPUR, Nov 19 -- The Ministry of Transport which receives RM6.05 billion allocation under Budget 2021, will be providing various incentives to benefit the people.


 
2021 Budget : MAFI, private sector must co-operate to optimise Budget 2021

KUALA LUMPUR, Nov 16  -- The Ministry of Agriculture and Food Industries (MAFI) and the private sector must escalate co-operation to optimise the allocation in the 2021 Budget to MAFI so that the initiative to empower the national foodagro sector can be achieved by using the latest technologies to modernise agriculture. 


 
 
 
 
 
 
 



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