Highlights of Budget 2018 proposals

KUALA LUMPUR: The  Budget 2018 unveiled by Datuk Seri Najib Tun Razak on Friday is broad based and encompasses all levels of the rakyat, SMEs, corporations while setting a stronger foundation for greater economic growth.

The Prime Minister's Budget proposals will see Malaysia, being a trade-oriented economy, pushing ahead to expand the exports while also accelarating the logistics and transport system.

To strengthen the country’s financial market, the Budget 2018 proposals focuses on boosting the exchange-traded fund  (ETF) and structured warrants, stimulate capital market and provide access to investment and an alternative trading system.

The Budget 2018 proposals will also accelerate Green Technology with an allocation of RM5bil under the Green Technology Financing Scheme.

On exports, the government is allocating RM1.25bil by focusing on high-impact export sectors.

A total of RM150mil has been allocated to Matrade, Mida and SME Corp to implement promotional programmes, and expand export markets including Market Development Grant.

Najib said the government has also earmarked RM1bil for Exim Bank to provide insurance coverage credit facilities and RM200mil for credit financing facilities to SME exporters; and RM100mil is provided as loan with 70% guaranteed by the Government to automate production of local furniture for exports.

The government has also taken cognizance of the importance of an efficient infrastructure system to improve the logistics and transportation sectors.

For instance the proposed East Coast Rail Link (ECRL) project, linking Port Klang to Pengkalan Kubor, Kelantan has the capacity to transport cargo and passengers within four hours. Construction of this project will begin in January 2018.

A total of RM110mil will be provide to build an alternative road to Port Klang to smoothen and complement the transportation network.

Transport, MRT, logistics