KUALA LUMPUR: The RM86bil development expenditure outlined in Budget 2025 can underpin sustainable economic growth and generate widespread benefits, says the National Chamber of Commerce and Industry of Malaysia (NCCIM).
NCCIM president Datuk Seri N. Gobalakrishnan said the substantial development allocation is expected to boost national consumer confidence when effectively channelled towards the populace.
"We're looking at the promise of new infrastructure, modernisation, and progress. Such investment is set to create a ripple effect, spurring domestic consumption and energising assorted sectors," he said at a press conference at Menara Matrade on Monday (Oct 21).
He said the RM50mil allocated for industry digitalisation, RM750mil for the Exporter Sustainability Incentive Scheme, and RM40mil for Malaysia External Trade Development Corp (Matrade) are initiatives that will strengthen productivity and global competitiveness of Malaysian businesses.
Gobalakrishnan also praised the support for local small and medium enterprises (SMEs) through special financing, particularly the RM600mil earmarked for halal SMEs.
"Coupled with the RM40bil business financing guarantee scheme and RM50mil for SME Digital Matching Grant and Vendor Digital Grant, these measures will ensure our local entrepreneurs stay ahead in the marketplace.
Additionally, the new RM1bil Green Technology Financing Scheme is poised to unlock fresh opportunities in our burgeoning green economy," he added.
He then said that the RM7.5bil allocation for technical and vocational education and training (TVET) is a critical solution to the current shortage of skilled workers faced by local businesses.
"Addressing the skills gap doesn't just fill job vacancies; it has the potential to cultivate innovators, entrepreneurs, and future leaders," he said.
Gobalakrishnan urged the government to continue engaging with industry stakeholders and to remain adaptable in policy-making to meet the demands of an evolving economic landscape.
