KUALA LUMPUR: Budget 2025 strongly emphasises organic growth within Malaysia's economy. Investors should look at the various allocations against a broader MADANI Economic framework to appreciate the strategic intent behind the government's approach, said UOB Kay Hian Wealth Advisors head of investment research Mohd Sedek Jantan. Elaborating on Budget 2025's allocation for the Investment, Trade and Industry Ministry (MITI) which amounted to RM2.184 billion (Euro 0,47) overall, he told Bernama that to drive economic transformation competitiveness, the New Investment Incentive Framework (NIIF) will shift Malaysia's approach from product-based to activity-based incentives, focusing on high-value and strategic sectors. "MITI's oversight of this framework aims to attract quality investments that foster innovation, ultimately driving the nation's economic transformation," he said.On the RM1 billion (Euro 0,22) Strategic Investment Fund, Mohd Sedek said MITI will manage it to support the development of local talent and foster high-value-added activities, ensuring that Malaysia remains competitive globally. MITI would also introduce incentives to strengthen local supply chains and ecosystems. "This includes double tax deductions for multinational enterprises (MNEs) that invest in local suppliers and joint ventures. "This initiative is designed to enhance the robustness of key industries," said Mohd Sedek. To further attract investments, he said MITI would lead efforts to ease the process of doing business in Malaysia by expediting approvals for new businesses and investment expansions while promoting collaborations between the public and private sectors. He also said in expanding Malaysia's global reach and trade opportunities, the export tax incentives in high-value high-tech sectors would encourage Malaysian firms to explore global markets, with Malaysia External Trade Development Corporation (MATRADE) taking a lead role in international promotion such as in the integrated circuit (IC) design services.  (ICE KUALA LUMPUR)

Fonte notizia: 31 Dicembre 2024