KUCHING: The Orang Ulu Chambers of Commerce and Industry (OUCCI) has described Budget 2023 as pro-growth and pro-development.
“It’s a very good signal for the economy and capital markets because the government is committed to promote growth in the economy, automate and digitise business processes and operations, plug leakages in the government delivery system, fight and eliminate corruption and increase accountability of the government machinery across the board,” said its president Datuk Mutang Tagal.
“Overall, it’s an inclusive budget, giving incentives to individuals especially youth, women, SMEs, micro entrepreneurs, small vendors and farmers,” he added.
In welcoming provisions under the revised national budget of RM386 billion he called for the RM100 million grant to SMEs and small vendors to automate and digitise their operations to be disbursed fairly to all eligible SMEs including those in Sarawak.
However, he noted that the government has to provide training to key personnel in these SMEs to ensure smooth transfer to ensure compliance and competitiveness in global markets.
“The Bank Negara Malaysia (BNM) incentive of RM1 billion should also benefit Sarawak SMEs and micro entrepreneurs and small vendors.
“In a fast digitalised world economy, Sarawak SMEs must go high tech to be able to penetrate world markets for their products and services.
“The RM750 million Inisiatif Pendapatan Rakyat through the Economy Ministry to empower the poor in the urban and rural areas to increase their earning potential is a big boost to this target market,” added Tagal.
The chamber hoped access to the fund initiative would be made easier.
He felt the RM40 billion in various financing facilities made available to MSMEs through various government agencies must benefit all members of business chambers, trade associations and guilds throughout the nation.
This is so that business enterprises will expand their businesses, provide employment, pay tax, generate revenue and create wealth for the country.
“Also, we hope that the RM5.6 billion development fund for Sarawak will be utilised to build infrastructure like sealed roads, treated water supply, reliable telecommunication systems, 24-hour electricity to rural Orang Ulu settlements and villages and integrate and link them to the towns and cities in Sarawak .
“We also want to thank the government for allocating a sum of RM1billion for the integrated development of border towns of Kalabakan in Sabah, and Ba’ Kelalan in Sarawak with Kalimantan, Indonesia.”
Tagal added that this is long overdue and this will ensure the sustainability of cross border friendly visits and economic development of the two countries.
Apart from that, he welcomed the RM1.6 billion subsidies to rice farmers and Bernas allocation of 30 per cent of its net profits to rice farmers, hoping Sarawak farmers will not be left out.
He urged SMEs in Sarawak to take advantage of BNM’s RM2 billion fund for green technology start-ups and the Green Technology Financing Scheme of RM3 billion to promote low carbon practices in their businesses by supporting low carbon market economy through reforestation, sustainable agriculture and others.
“The rural communities in Sarawak, with advice from the Sarawak Biodiversity Centre, Forestry Department and Natural Resources and Environment Board (NREB) Sarawak and other relevant agencies should guide SMEs in this regard.
“The RM1.7 bill loan facilities parked under BSN, BNM and TEKUN must benefit micro entrepreneurs, women and youth for these groups to be empowered to contribute to the national economy and Sarawak must not be left out,” he said.
“OUCCI hopes that the budget will grow and expand Malaysia’s economy, produce profitable SMEs, provide full employment, keep inflation in check, build wealth for the people and nation, leading to a budget surplus, and repay our RM1.2 trillion debt, and remove the RM300 billion contingent liability.
“Kudos to Prime Minister Datuk Seri Anwar Ibrahim for a good budget that is inclusive to all the rakyat,” said Tagal.
