NEWS

Government should allocate support incentives for SMEs in Budget 2020, say industry experts

KUALA LUMPUR, Sept 18  -- Automation revolution industry experts have opined that the government should allocate support incentives for the small and medium enterprises (SMEs), as well as a conducive environment for them to thrive.

International Smart Manufacturing 4.0 Conference (ISMC 2019) Patron, Tan Sri Abdul Rahman Mamat said, there are two phases for this, namely involving the government and inclusion of the private sector.

"In the first phase, the government’s role is to create a conducive ecosystem, for SMEs to easily undertake their business, whereby (SMEs) can also easily transform or transition into the latest technology," he told reporters here today.

Additionally, Abdul Rahman who is also Malaysian Technology Development Corporation Sdn Bhd chairman said the second phase would then only involve the private sector in obtaining loans, a change of operations (model) or a reduction in foreign workers, among others.

"Hopefully, in the upcoming Budget 2020, the government will allocate some money towards creating a conducive ecosystem as countries in the region are already spending billions of dollars towards this.

"We cannot just ask the SMEs to transform from (industry revolution) 1.0, 2.0 to 4.0, (that's impossible) because they're small," he added.

He said once the ecosystem created is conducive, the private sector will definitely know what to do, and it is best to leave matters to it.

Meanwhile, Malaysia Robotics and Automation Society (MyRAS) chairman, Prof Ishkandar Baharin also backed the call for more incentives in support of SMEs.

He said with the support, SMEs may also experience a reduction in operating costs, figure out ways to increase productivity and be globally competitive.

"All these (better environment for SMEs) needs collaboration, not only funding, but also from a policy point of view and down to implementation, as well as for all members to see what is happening," he said.

At the moment, Ishkandar said it was important to not have too much of a gap between policy makers and SMEs and hopes the upcoming Budget 2020 can facilitate this.

Both Abdul Rahman and Ishkandar were met at the launch of the “ISMC 2019: Industry 4.0 Successful Implementation”. 

The three-day event, starting today, is jointly organised by Lean Smart Industry Solutions PLT and MyRAS.

It covers various topics in bridging the gap within the International Smart Manufacturing Industry 4.0, including what the government has prepared for the industry, its current capacity and capability, what’s missing to achieve the full implementation of Industry 4.0 and the solutions towards filling the gap.

—BERNAMA


 





OTHER NEWS

Budget 2022: Impact on fixed income market almost negligible, says Manulife

KUALA LUMPUR, Nov 12 -- The impact from Budget 2022 on the fixed income market is almost negligible, given that there were no major surprises in terms of the country’s debt financing requirement and fiscal position, said Manulife Investment Management (Manulife).


Govt needs to look for other ways to increase revenue beyond Budget 2022 taxes - Expert

KUALA LUMPUR, Nov 11 -- Budget 2022 tax initiatives may not contribute significantly to government revenue and there is a need to look for other ways to increase it for the sustainable economic growth of the country, according to a tax expert.


Budget 2021 formulated based on valid data - MoF

KUALA LUMPUR, Dec 16 -- Budget 2021 was formulated based on reports presented by relevant bodies whose data could be determined to be valid, the Ministry of Finance (MoF) said.


HIGHLIGHTS


EXCLUSIVE


ECONOMIC REPORT

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 ...

Budget 2021 described as inclusive for all in tourism sector

KUALA LUMPUR, Nov 9 -- The inclusive Budget 2021 touching on the involvement of various parties contributing to the economic chain related to the tourism sector is seen capable of revital...



BNC LIVE


BUDGET SPEECH



© 2024 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution