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Budget 2021 must be inclusive, focused on Healthcare and SME’s to benefit most Malaysians | Yayasan Usahawan Malaysia

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KUALA LUMPUR: Budget 2021, to be tabled today, is expected to be a people’s budget and benefit the majority of Malaysians and providing a growth stimulus towards the economy post managing the Covid-19 pandemic, said Nitesh Malani, Chairman of Yayasan Usahawan Malaysia | MyPreneurship.

The budget to be presented by Finance Minister YBM Dato’ Sri Tengku Zafrul bin Tengku Abdul Aziz, would contribute to the creation of an ecosystem that must help the economy jumpstart & progress towards economic recovery and various stimulus initiatives focused on SME’s, the B40 & M40 segment.

Budget 2021 will provide future direction on how the financial positions can be strengthened, The budget is expected to usher in fiscal deficits, including new taxes and vast spending cuts on new infrastructure projects and better focus on healthcare and saving jobs, as post-pandemic that has hit globally, we should be prepared to make some sacrifices. CEO of Cheng & Co Mr. Tom Wong says there must be a various incentives for SMEs & Entrepreneurs as it contributes in excess of 80% towards the GDP of Malaysia. Tom Wong says that Tax incentive for capital investment into SMEs by people on the street thru fintech should be a must as the “New Norm” has pushed Malaysian towards a digital economy.

The government through MED and other relevant agencies must create more matching grants for upskilling SME training in productivity, quality certification, key man education (MBA and visits), and wellness programmes. This is in the vision of the launch of the Global Institute of Business & Entrepreneurship or “G.I.B.E”, which plans to reenergise how business & Entrepreneurship is looked at from a global perspective. GIBE is to be headquartered in Malaysia by Yayasan Usahawan Malaysia.

Lastly, our hope is to see a more vibrant Malaysian based support economy throughout 2021 and 2022 as most countries restrict international travel. We anticipate a budget truly favouring the people on the ground and to be able to Restart, ReBuild, and Rejuvenate our economic systems once again. Let’s come together to move forward and stay safe from this global pandemic.


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