THE RM50mil allocation for the Chuping Valley Industrial Area (CVIA) announced in Budget 2020 would help transform Perlis and revolutionise the Northern Corridor Economic Region (NCER), said Northern Corridor Implementation Authority (NCIA) chief executive officer Datuk Seri Jebasingam Issace John.
Jebasingam said CVIA is bound to transform Perlis and help attract more investments whilst creating job opportunities for the locals.
“We will begin with infrastructure development next month and we are expecting investors as early as June next year.
“With this project, we expect to attract investments worth RM4.5bil while creating over 13,000 job opportunities after its completion.
“This would help reduce the rate of internal migration, that of Perlis residents to other states, ” he said in a press statement on Friday.
Separately, the Penang Chinese Chamber of Commerce (PCCC) welcomed measures like the reduction of toll charges on the Sultan Abdul Halim Mu’adzam Shah Bridge alongside an allocation of RM100mil towards the construction of a new cable car system to Penang Hill as announced in Budget 2020.
PCCC said Budget 2020 was commendable and disciplined, despite current constraints faced by the government in exploring new revenue sources.
“As a trading nation, Malaysia was adversely affected by the trade tensions between the United States and other nations, especially China. This has since thrown the global economy into a state of uncertainty with a gloomy outlook.
“At the domestic front, the sources of revenue available to the government, especially in terms of taxation are restricted.
“But despite the difficulties and constraints, a slew of allowances and concessions are managed in the budget to help the B40 group.
“In this regard, the chamber is of the view that this is a highly commendable budget, and it is reflective of a disciplined way of financial management, ” it said in a statement on Friday.
PCCC said Budget 2020 retained tradition with the Ministry of Education receiving the highest allocation.
“This is in the right direction, as investment in human capital will yield good returns in future.
“But in terms of the targeted fuel subsidy scheme, PCCC opines that although the intention is good, the entire subsidy mechanism is too complicated.
“It has too many different criteria. The qualifications and groups of beneficiaries are also finely differentiated, which will cause confusion when implemented.
“In time, this would bring dissatisfaction and resentment, while failing to take into account the cost of transportation, which will increase the cost of doing business. As such, we urge for the targeted fuel subsidy to be studied first, ” it said.
PCCC added that the budget also did not allocate significant funds for development expenditure.
“We are afraid that if development expenditure is stagnant for a long time, the future of the nation will be affected.”
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