Breaking News : Likes our Facebook page and join us as members, you will receive email updates and instant updates in Telegram group.
The National Chamber of Commerce and
Industry Malaysia (NCCIM) has urged Small and Medium Enterprises (SMEs) to take
advantage of the various incentives offered in the 2015 Budget.
"Its a pro-business budget when
one talks about how the budget helps the sector to grow, and I urge the SMEs,
which contribute about 33 per cent to our Gross Domestic Product, to grab the
various incentives offered," said NCCIM Secretary-General Datuk Seri Syed
Hussien Al-Habshee.
Various schemes and incentives
allocated for SMEs testify to the government's concern to empower SMEs, adding
the government should set up a system to monitor the SMEs that have been
awarded such grants and financial assistance. A monitoring system similar to
the Inspectorate Division in SME Corp is needed. Inspectors will visit and
audit the SMEs and offer assistance and guide them in soft skills like
accounting, book-keeping and cash flow," he said. Meanwhile, e-commerce
giant Rakuten Online Shopping also welcomed the RM375 million allocation for
the SME Investment Partner programme as well as the RM2.7 billion to build
1,000 new telecommunication towers and lay undersea cables.
The
Government has proposed to further enhance one of the tax incentives for SMEs
under the funding model of Investment Account Platform (IAP). The IAP model was
introduced to attract participation from both individual and corporate
investors to boost development of SMEs as well as entrepreneurs via a funding
system which is efficient, simple and transparent. However, this has not taken
off as the Government had envisaged.
To
further enhance the IAP, the Government has proposed in Budget 2015 that
profits earned by individual investors from investments made through IAP be
given income tax exemption for three consecutive years commencing from the
first year profit is earned, subject to conditions. The proposed operational
date of IAP is from Sept 1, 2015 to Aug 31, 2018.
With
this, the Government hopes to attract cash-rich individuals to invest funds
into SMEs for project financing to help propel SMEs to the next phase of growth
and development.
All small
and medium enterprises (SMEs) should take advantage of the RM11.4 billion in
government incentives earmarked for their development in 2015, says Minister of
International Trade and Industry (MITI), Datuk Seri Mustapa Mohamed. The recent Budget 2015 also outlined several measures
to further facilitate the SME development and strengthen their long term
competitiveness, he added.
"Take advantage of this incentive to expand your businesses. In doing so, you will be able to further contribute to Malaysia's economic growth," he said in his speech, before presenting the Enterprise 50 Awards, here Friday.
The Enterprise 50 is an annual awards programme organised by SME Corporation Malaysia (SME Corp) and Deloitte Malaysia, with other supporting sponsorships, to recognise the achievements of Malaysia's enterprising SMEs. The formation of the Asean Economic Community (AEC) will definitely offer great opportunities for Malaysian SMEs. As a single market with a population of 620 million, Asean's total trade is worth US$2.5 trillion (US$1=RM3.34) with an annual Gross Domestic Product (GDP) growth forecast of more than five per cent," he added. To further enhance the value chain activities, Mustapa said Asean and its neighbours, are negotiating to form a Regional Comprehensive Economic Partnership Agreement (RCEP). When concluded, RCEP will form a trading group with a market size of over three billion and a combined GDP of over US$21 trillion, contributing to almost half the global trade. Malaysian companies must embrace the AEC and East Asian integration. Economic integration will open new business opportunities and create greater value to our businesses.
Realising the importance of SMEs as the country's engine of growth, the government will continue to support SME development through the implementation of the SME Masterplan (2012-2020). The main objective of the Masterplan is to raise productivity, increase the number of high growth and innovative firms, as well as enhance the formalisation of businesses. SMEs played a crucial part in strengthening Malaysia's economic growth in contributing 33 per cent to Malaysia's GDP, and this is targeted to increase to 41 per cent by 2020.
"Take advantage of this incentive to expand your businesses. In doing so, you will be able to further contribute to Malaysia's economic growth," he said in his speech, before presenting the Enterprise 50 Awards, here Friday.
The Enterprise 50 is an annual awards programme organised by SME Corporation Malaysia (SME Corp) and Deloitte Malaysia, with other supporting sponsorships, to recognise the achievements of Malaysia's enterprising SMEs. The formation of the Asean Economic Community (AEC) will definitely offer great opportunities for Malaysian SMEs. As a single market with a population of 620 million, Asean's total trade is worth US$2.5 trillion (US$1=RM3.34) with an annual Gross Domestic Product (GDP) growth forecast of more than five per cent," he added. To further enhance the value chain activities, Mustapa said Asean and its neighbours, are negotiating to form a Regional Comprehensive Economic Partnership Agreement (RCEP). When concluded, RCEP will form a trading group with a market size of over three billion and a combined GDP of over US$21 trillion, contributing to almost half the global trade. Malaysian companies must embrace the AEC and East Asian integration. Economic integration will open new business opportunities and create greater value to our businesses.
Realising the importance of SMEs as the country's engine of growth, the government will continue to support SME development through the implementation of the SME Masterplan (2012-2020). The main objective of the Masterplan is to raise productivity, increase the number of high growth and innovative firms, as well as enhance the formalisation of businesses. SMEs played a crucial part in strengthening Malaysia's economic growth in contributing 33 per cent to Malaysia's GDP, and this is targeted to increase to 41 per cent by 2020.
No comments:
Post a Comment