KUALA LUMPUR: The Malaysian Rubber Glove Manufacturers Association (MARGMA) has reiterated that a reinvestment allowance is crucial for Malaysia to remain as the leading manufacturer of rubber gloves.
In a statement, it said that in its budget recommendation to the Ministry of Finance it had requested for an extension and expansion of the reinvestment allowance.
Having completed the first phase of rapid growth in production capacity, MARGMA said the industry had entered the second phase of growth, which involves product innovation and production technology.
According to the industry body, the allocation of a reinvestment allowance would encourage more investment in manufacturing activities and innovation.
In addition, it would create more high-end jobs for university graduates in related fields and further increase export revenue for Malaysia.
"This is particularly important for Malaysian glove manufacturers to continue to reinvest huge capital to expand and build modern and automated factories in order to stay ahead as the World leader.
"We want to work hand in glove with the Government to expand business world-wide and to bring in more revenue to the country," it said.
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