Ministers hail Budget as a boost for socio-economic development

KUALA LUMPUR: Allocations under Budget 2021 will help the International Trade and Industry Ministry boost the economy by attracting more high-quality investments and helping industry players who are struggling amid the Covid-19 pandemic, says its minister Datuk Seri Azmin Ali.

He said the RM1.2bil would help its agencies implement programmes to attract more investments for the industries.

“It will further support the economic ecosystem and recovery directly, boost economic activities and potential foreign and local investments, as well as protect local workers, ” he told reporters.

Minister in the Prime Minister’s Department Datuk Seri Mustapa Mohamed described Budget 2021 as comprehensive, giving a head start to the 12th Malaysia Plan.

He also noted that the government had embraced a sustainable development agenda, adding that no budget had done so previously.

Rural Development Minister Datuk Dr Abdul Latiff Ahmad pointed out the allocations for rural development, which emphasised bridging the gap between urban and rural development.

He also spoke about the RM10.19bil allocation, which included RM3.533bil for management and RM6.757bil for development.This represented an increase of RM431mil or 4.42% from allocations under Budget 2020, he said.

“With this allocation, more development projects will be carried out in rural areas not only in terms of infrastructure, but also economy and human capital.

“This also supports socio-economic development and creates a prosperous rural living environment as outlined in the 2030 Rural Development Policy, ” he said.

Abdul Latiff said that under the development allocation, RM2.32bil was for basic infrastructure development in rural areas such as electricity and water supply and roadways, especially for Sabah and Sarawak.

“This is RM169.3mil or 7.8% higher compared to the previous allocation, ” he added.

He also said RM2bil had been allocated for Mara sponsorship programmes which would benefit 50,000 students, including 21,000 new students.

As for orang Asli development, he said RM236.2mil had been set aside for infrastructure, economy and human capital development programmes, among others.