09 Nov 2020 . News
NCIA applauds effort to revive economy, boost socioeconomic recovery

GEORGE TOWN, Nov 7 — The Northern Corridor Implementation Authority (NCIA) has praised Budget 2021’s effort to give priority to Malaysians’ well-being and emphasis on reviving the national economy.

NCIA said in a statement yesterday that Budget 2021 has all the appropriate ingredients to boost the country’s economy towards sustainable growth while also providing job creation and entrepreneurship opportunities for the rakyat affected by the COVID-19 pandemic through socioeconomic uplifting programmes.

It also said that by 2021, over 36,000 participants would benefit from NCIA’s Human Capital Programmes (HCP).

“NCIA regards the special incentive package of RM1 billion for high value-added technology industries such as research and development in the aerospace industry as well as the electronic clusters in Batu Kawan and Kulim industrial parks as a step in the right direction to ensure business continuity and enriching the electrical and electronics (E&E) ecosystem in the region.

“This is aligned to the Northern Corridor Economic Region’s (NCER) 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,” NCIA chief executive Datuk Seri Jebasingam Issace John said.

The NCIA also welcomed the High Technology Fund worth RM500 million and the roll-out of a more supportive tax framework to encourage high technology and innovative companies.

It said the incentives would enable Malaysia and the northern 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,” Jebasingam added.


Source : Bernama – 7 November 2020 (Saturday)