KUALA LUMPUR: The Finance Ministry is committed to supporting the medical device sector as one of the main growth sectors that will be looked into during Budget 2023, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz (pic).
The Finance Minister said the success of medical device companies which have penetrated the global market and contributed to the country's economy should not be doubted.
"With that,through Budget 2023, the ministry is committed to continue to support the medical devices sector as one of the main growth sectors, by taking into the consideration its contribution of creating 39,000 job opportunities from 2017 until 2021 and contributed RM41.3 billion in exports in 2021," he said in a statement on Tuesday (Sept 6).
The statement was issued in conjunction with the Budget 2023 tour to Penang recently by the ministry led by Tengku Zafrul, who sought views and suggestions from the state government, industries, and grassroots in the federal government's effort to draft the annual budget so that it can fulfil people's needs and at the same time, drive the country's economic growth and development.
The tour, which included a dialogue, was attended and chaired by Tengku Zafrul and Penang Chief Minister Chow Kon Yeow with the attendance of more than 20 industry players in the medical devices sector.
There are currently 30 main industry players in medical devices in the world and ten of them operate in Malaysia including in Penang.
The statement said in 2021,a total of RM7.7bil in investments have been attracted by these sectors, including several companies that have been operating in Bayan Lepas for more than 50 years and a company that is in the process building its new factory in Batu Kawan, Penang.
During the event, Tengku Zafrul also took the opportunity to conduct an engagement session with several high growth technology companies.
The effort is in line with the formation of the latest Public Consultation Paper (KKA) for Budget 2023 titled "Policy on the Use of Local Research and Development (R&D) Products, Services and Technology in Government Procurement" which aims to protect and develop the capabilities of local technology companies through improving the ecosystem of technology transfer, commercialization and marketing of local research design (R&D) products.
The KKA feedback can be shared through the website https://budget.mof.gov.my/bajet2023/kertaskonsultasi/ until Sept 15.
In terms of sustainable development which will also be a focus aspect in Budget 2023, the Finance Minister also had the opportunity to engage in a dialogue with the founder and management of The Habitat in Bukit Bendera to obtain the latest status of the "Unesco Man & the Biosphere Reserve" programme, one of the recipients under the Budget 2022 allocations.
With the allocation, , it has succeeded in improving efforts to apply the concept of a circular economy as the basis for the development of sustainable eco-tourism in Malaysia.
The support for the ecotourism industry is a two-pronged strategy to preserve the country's natural treasures and at the same time, target high-value tourists.
The statement added that the Budget 2023 tour to Penang had completed the tour to all states.
In addition, the publishing of six KKA has also contributed to the amendment of Budget 2023 which is more comprehensive and takes into account feedback from various parties for the well-being of the people and the country.
