KUALA LUMPUR, Nov 1 (Bernama) -- The 2019 Budget, to be tabled on Friday, is expected to be an inclusive and rakyat-friendly one which is set to benefit the Malaysians while providing a growth stimulus towards the economy, said Nitesh Malani, Chairman of Yayasan Usahawan Malaysia (MyPreneurship).
The maiden Pakatan Harapan budget which is to be presented by Finance Minister Lim Guan Eng would contribute to the creation of an ecosystem that would help the economy improve & progress towards the vision 2020 set by Prime Minister Tun Dr. Mahathir Mohamad.
MyPreneurship, a non-government organisation strives on the frontier of gathering, creating and developing sustainable companies with strong entrepreneurship traits, and has been in the forefront of supporting Malaysia’s entrepreneurship development.
“Entrepreneurship is one of the main drivers of the country’s economic growth in which it creates wealth, innovation and technology deployment while reducing poverty,” says Nitesh. “We hope that the tabling of Budget 2019 will have a special focus on programs and policies that have been formulated to spur the development of entrepreneurs.”
MyPreneurship’s treasurer, Tom Wong quips that various incentives should be given to the SMEs and entrepreneurs as the industry contributes an excess of 80% towards the GDP of the country. Tom Wong is also the CEO of Cheng & Co., Malaysia’s leading home-grown international accounting firm.
“Tax incentives for capital investment into SMEs by people on the street thru fintech should be considered as the current tax incentive is available for angel or private equity investors,” he added. “We also hope the government will defer the introduction of digital tax and instead provide incentives or soft loans so that the e-commerce industry in Malaysia can benefit more.”
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