KUALA LUMPUR, Nov 9 (Bernama) -- IBM Malaysia has described Budget 2021 as a crucial step in a series of initiatives that the government has and will undertake to address the unprecedented impact of Covid-19 on the nation’s economy.
Its managing director Catherine Lian described the budget as ‘strategic’ and designed to address the immediate problems faced by the rakyat, further enhanced by the previous Penjana and Prihatin programs.
“We are heartened that the budget is very much a people-centric one focusing on the critical areas of the rakyat’s welfare, business continuity and economic resilience,” said Catherine.
With Malaysia expecting a contraction gross domestic product (GDP) of 4.5% in 2020, Catherine is encouraged that measures addressed within Budget 2021 aim to further kick-start Malaysia’s recovering economy towards targeted growth of 6.5% - 7.5% in 2021.
She is further encouraged by the emphasis on digital transformation to elevate the country’s productivity and national competitiveness.
To further strengthen Malaysia’s economic competitiveness, she further suggested for the government to complement current fiscal and financial measures with a robust policy framework that would enhance Malaysia’s position in the global digital economy.
“A focus on international trade agreements that enhance and promote data flows across borders, standards to facilitate digital trade activities and robust data protection and privacy regime that pivots on trust and transparency will ensure that Malaysia remains a competitive player in the digital space,” said Catherine.
Finance minister Tengku Zafrul Aziz had announced that RM1 billion would be set aside for digital transformation schemes, coupled with RM150 million in grants for the digitalisation and automisation of small- and medium-sized enterprises (SMEs) and nearly RM1.2 billion for microcredit schemes.
In addition, the government also announced RM10 billion for Syarikat Jaminan Pembiayaan Perniagaan Bhd and RM2.5 billion for G1 to G4 contractors for small and medium projects nationwide, with MARA to provide RM50 million in funding scheme for Bumiputera contractors.
http://mrem.bernama.com/viewsm.php?idm=38636
“We are heartened that the budget is very much a people-centric one focusing on the critical areas of the rakyat’s welfare, business continuity and economic resilience,” said Catherine.
With Malaysia expecting a contraction gross domestic product (GDP) of 4.5% in 2020, Catherine is encouraged that measures addressed within Budget 2021 aim to further kick-start Malaysia’s recovering economy towards targeted growth of 6.5% - 7.5% in 2021.
She is further encouraged by the emphasis on digital transformation to elevate the country’s productivity and national competitiveness.
To further strengthen Malaysia’s economic competitiveness, she further suggested for the government to complement current fiscal and financial measures with a robust policy framework that would enhance Malaysia’s position in the global digital economy.
“A focus on international trade agreements that enhance and promote data flows across borders, standards to facilitate digital trade activities and robust data protection and privacy regime that pivots on trust and transparency will ensure that Malaysia remains a competitive player in the digital space,” said Catherine.
Finance minister Tengku Zafrul Aziz had announced that RM1 billion would be set aside for digital transformation schemes, coupled with RM150 million in grants for the digitalisation and automisation of small- and medium-sized enterprises (SMEs) and nearly RM1.2 billion for microcredit schemes.
In addition, the government also announced RM10 billion for Syarikat Jaminan Pembiayaan Perniagaan Bhd and RM2.5 billion for G1 to G4 contractors for small and medium projects nationwide, with MARA to provide RM50 million in funding scheme for Bumiputera contractors.
http://mrem.bernama.com/viewsm.php?idm=38636
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