09 Nov 2020 . News
Letter – NCER welcomes expansionary budget to revive economy, boost socioeconomic recovery for rakyat

THE Northern Corridor Implementation Authority (NCIA) applauds the 2021 National Budget, which is inclusive and gives priority to the well-being of the people, especially in facing the impact of the on-going Covid-19 pandemic whilst emphasising on driving investments, strengthening key industrial sectors and facilitating access to business as outlined in the Northern Corridor Economic Region’s (NCER) Strategic Development Plan (SDP) 2021-2025.

The Budget 2021, presented by the Minister of Finance, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, announced all the appropriate ingredients to boost the country’s economy towards sustainable growth and most importantly, provide job creation and entrepreneurship opportunities for the Rakyat affected by the Covid-19 pandemic through NCIA’s PENJANA Jomkerja@NCER and JomNiaga@NCER and other socioeconomic uplifting programmes. Over 36,000 participants will benefit NCIA’s Human Capital Programmes (HCP) in 2021.

“Amongst the many other announcements, NCIA regards the special incentive package of RM1 billion for high value-added technology industries such as R&D in the aerospace industry  as well as electronic clusters in Batu Kawan, Penang and Kulim, Kedah industrial parks is a step in the right direction to ensure business continuity and enriching the E & E ecosystem in the Region. This is aligned to NCER’s vision to become a world class region and Technology Hub and strengthen the single campus initiative between Penang, Kedah and Perak as a holistic technology ecosystem,” said Datuk Seri Jebasingam Issace John, NCIA Chief Executive.

In addition, NCIA welcomes the High Technology Fund worth RM500 million and the roll-out of a more supportive tax framework to encourage high technology and innovative companies. These incentives will enable Malaysia and the Region to remain competitive and maintain the supply chain and research ecosystem.

“The special allocation of RM780 million for the five regional economic corridors for the development of strategic economic projects reflects the federal government’s commitment to continue the regional development agenda and reduce regional imbalances. To this end, NCER Special Development Zones in Yan and Baling will help catalyse the development in less developed areas to bring socioeconomic improvement to the Rakyat,” added the NCIA Chief Executive.

Source: The Vibes – 7 November 2020 (Saturday)