09 Nov 2020 . News
NCIA: 2021 Budget has all the appropriate ingredients to boost economy

IPOH: The Northern Corridor Implementation Authority (NCIA) says the 2021 Budget emphasises on driving investments, strengthening key industrial sectors and the people’s well-being following the Covid-19 pandemic.

NCIA chief executive officer Datuk Seri Jebasingam Issace John said the 2021 Budget’s priorities, which included facilitating access to businesses were in line with Northern Corridor Economic Region’s (NCER) Strategic Development Plan (SDP) 2021-2025.

The 2021 Budget was tabled at the Dewan Rakyat yesterday by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

“The budget announces all of the appropriate ingredients to boost the country’s economy towards sustainable growth.

“Most importantly, it provides job creation and entrepreneurship opportunities for those affected by the Covid-19 pandemic through NCIA’s Penjana Jomkerja@NCERJomNiaga@NCER and other socioeconomic uplifting programmes.

“Over 36,000 participants will benefit NCIA’s Human Capital Programmes (HCP) in 2021,” Jebasingam said in a statement today.

He pointed out the RM1 billion-special incentive package for high value-added technology industries was within NCER’s trajectory to transform the region into a world-class technology hub.

“NCIA regards the special incentive package for industries such as research and development in aerospace as well as electronic clusters in Batu Kawan and Kulim industrial parks, is a step in the right direction to ensure business continuity and enriching the electrical and electronic ecosystem in the region.”

Jebansingam also said the High Technology Fund worth RM500 million and a more supportive tax framework would encourage the development of high technology, innovation and competitiveness among others.

“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 people.”


Source: New Straits Times – 7 November 2020 (Saturday)