Standing at RM280.25billion and being the final one to be tabled before the next general election, Budget 2018 is predictably a rakyat-friendly one. 

“We are pleased to see the latest budget demonstrated the Government’s desire to improve the standard of living and well-being of the people, but remain focused on exercising fiscal discipline to accelerate the nation’s economic direction and providing positive implications to the capital market,” said Hanifah Hashim, Chief Executive Officer of Franklin Templeton GSC Malaysia.

Malaysia’s Budget 2018 introduced a series of exciting initiatives that will definitely bring further growth to Malaysia’s economy. 

“We are encouraged by the RM83.5 million allocated in the budget for the first phase of the Digital Free Trade Zone (DFTZ) that is expected to further boost the growth of local small and medium enterprises (SMEs). This serves as a great opportunity for SMEs to expand abroad and tap into regional markets in addition to creating strategic partnerships with   key organisations such as international trade facilitators,“ said Christopher Ong, Managing Director, DHL Express Malaysia & Brunei.

Malaysia’s Budget 2018 is a step in the right direction for the nation’s digital journey thanks to the great emphasis on efforts to digitise the manufacturing sector. This marks the country’s pivotal shift from a labour-driven economy to a more knowledge-driven society. The rise of the fourth Industrial revolution (Industry 4.0) is definitely upon us. 

“With the measures under Budget 2018, Cisco believes that Malaysian manufacturers will be better positioned to capitalise on the upcoming opportunities brought upon by digitisation. In its nascent stage, the combination of tax reliefs and grant allocation Smart Manufacturing facilities will incentivise more manufacturers to adopt new technologies such as automation, Big Data Analytics and robotics,” Albert Chai, Managing Director, Cisco Malaysia.

Budget 2018 reflects the Government’s sensitivity towards the Rakyat, through caring yet practical policies, particularly for the B40 and M40. 

Tengku Datuk Seri Zafrul Aziz, Group Chief Executive, CIMB Group notes that focus on bread-and-butter issues, like reducing income tax for the lower income group, increasing assistance for basic food and transportation items and providing more allocation for affordable homes will go a long way towards ensuring the Rakyat’s short- and long-term interests.