In terms of market exploration for Malaysian products and services, a RM40 million (Euro 8,63million) reimbursement grant would be allocated to MATRADE to assist exporters penetrate new and diverse markets, including Africa, Latin America, and the Middle East. "This initiative aims to broaden Malaysia's global trade footprint," he said. Aside from that, to boost the halal sector, Mohd Sedek said Budget 2025 has allocated RM20 million (Euro 4,31 million) for MATRADE to enhance Malaysian halal products and services competitiveness, ensuring that halal companies could reach global markets more effectively. In terms of talent development and technical and vocational education and training (TVET), RM200 million (Euro 43,15 million) would be allocated through Khazanah Nasional Bhd to train 11,000 local talents in strategic sectors like semiconductors and electrical and electronics (E&E) to build resilience. According to MITI, this funding would be channelled to Universiti Teknologi MARA (UiTM) and Universiti Sains Malaysia (USM) to develop engineering and artificial intelligence (AI) related skills, ensuring that the country's workforce is ready for the future economy as the nation is gearing towards a high-skilled high-income nation. On another development, the Exporter Sustainability Incentive Scheme amounting to RM70 million (Euro 15,10 million) , to be primarily managed by EXIM Bank, would see collaboration with MATRADE. The aim is to support local exporters in expanding their international presence, particularly with sustainability goals in mind. Additionally, the Joint Committee on National Competitiveness, MITI, and MATRADE would focus on enhancing Malaysia's overall competitiveness in global markets. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid is of the view that Budget 2025's allocation for MITI made sense since the ministry played an instrumental role in driving investment, especially foreign direct investment (FDI). "Certainly, the allocation should help MITI in their roadshows and prescribe incentives that can help promote Malaysia as an ideal investment destination," he said. He also said the higher allocation would help MITI to expand its reach to micro, small and medium enterprises (MSMEs) and their awareness of the benefits of bilateral and multilateral trade agreements. He said a higher allocation means more capacity-building programmes to promote entrepreneurship and help encourage the adoption of digitalisation. Another analyst, SPI Asset Management managing director Stephen Innes said Budget 2025 signals a strong commitment to fiscal consolidation that could strengthen the ringgit next year. According to Bank Negara Malaysia's (BNM) financial markets committee (FMC), the ringgit was one of the best-performing currencies globally in the third quarter of this year (3Q 2024), strengthening 14.4 per cent against the US dollar and 11.4 per cent on a year-to-date basis. Innes said it is forecasting the currency to strengthen to RM4.00 (Euro 0,86) per US dollar, with a potential for more upside. "The government's plan to narrow the budget deficit to 3.8 per cent of gross domestic product (GDP) in 2025 is a bold move, rolling back subsidies and social assistance from RM61.4 billion (Euro 13,25 billion) in 2024 to RM52.6 billion (Euro 11,35 billion) while boosting fiscal revenue," he told Bernama. Government spending is set to rise by 3.3 per cent to RM421 billion (Euro 90,82) in 2025, with fiscal revenue targeted to grow by 5.5 per cent to RM339.1 billion (Euro 73,16) billion. (ICE KUALA LUMPUR)

Fonte notizia: 31 Dicembre 2024