ID :
146200
Sat, 10/16/2010 - 19:58
Auther :
Shortlink :
https://oananews.org//node/146200
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NO SPECIFIC PLAN IN MALAYSIAN BUDGET TO ATTRACT INVESTORS, SAYS ENTREPRENEUR
By Santhia Panjanadan
PETALING JAYA (Malaysia), Oct 16 (Bernama) -- The 2011 Malaysian Budget
while it had laid out allocations for expenditure and projects to transform the
nation, it did not offer any mechanisms or specific plans to attract investors,
a local industrialist said here Saturday.
The industries were expecting to see some incentives to attract investors,
said Director of B.I.G. Industries Bhd Dr Lau Ban Tin.
With the limited local market, domestic investors are already moving out,
and the lack of incentives would further add on to the current situation, he
told Bernama after delivering a talk on "Economic Landscape for 2011 and Beyond"
at the Budget 2011 Seminar, organised by TAR College School of Business Studies
here Saturday.
He also said that with the limited funds, the government should give
priority to more pertinent issues than infrastructures that could be built much
later or even after achieving Vision 2020.
With the nation aggresively steering towards achieving a high-income nation
and expecting for more foreign direct investments (FDIs), it should look at
incentives such as special harbour, special industrial zones, more tax
incentives and exemptions, special loans or government guarantee for purchase of
land to lure investors.
Lau was comenting on the Budget 2011 tabled by Prime Minister
Najib Tun Razak in Parliament Friday.
"We are saying we don't have enough money, 60 per cent of the population is
earning below RM3,000."
The government is presently withdrawing subsidy, expecting more FDIs and
private investments and therefore there are bigger problems to be addressed, Lau
said, adding that the government could consider building the Warisan Merdeka
(Merdeka Heritage) later.
The Warisan Merdeka landmark, a RM5 billion (US$1=RM3.08) project located
within the enclave of Merdeka Stadium and National Stadium will start next year
and is expected to be completed in 2015.
In 2011, private investment is estimated to expand 12.5 per cent to RM86
billion.
The implementation of the 12 National Key Economic Areas (NKEA) is expected
to generate investment exceeding RM1.3 trillion and the private sector is
expected to finance 92 per cent of the NKEA.
--BERNAMA
PETALING JAYA (Malaysia), Oct 16 (Bernama) -- The 2011 Malaysian Budget
while it had laid out allocations for expenditure and projects to transform the
nation, it did not offer any mechanisms or specific plans to attract investors,
a local industrialist said here Saturday.
The industries were expecting to see some incentives to attract investors,
said Director of B.I.G. Industries Bhd Dr Lau Ban Tin.
With the limited local market, domestic investors are already moving out,
and the lack of incentives would further add on to the current situation, he
told Bernama after delivering a talk on "Economic Landscape for 2011 and Beyond"
at the Budget 2011 Seminar, organised by TAR College School of Business Studies
here Saturday.
He also said that with the limited funds, the government should give
priority to more pertinent issues than infrastructures that could be built much
later or even after achieving Vision 2020.
With the nation aggresively steering towards achieving a high-income nation
and expecting for more foreign direct investments (FDIs), it should look at
incentives such as special harbour, special industrial zones, more tax
incentives and exemptions, special loans or government guarantee for purchase of
land to lure investors.
Lau was comenting on the Budget 2011 tabled by Prime Minister
Najib Tun Razak in Parliament Friday.
"We are saying we don't have enough money, 60 per cent of the population is
earning below RM3,000."
The government is presently withdrawing subsidy, expecting more FDIs and
private investments and therefore there are bigger problems to be addressed, Lau
said, adding that the government could consider building the Warisan Merdeka
(Merdeka Heritage) later.
The Warisan Merdeka landmark, a RM5 billion (US$1=RM3.08) project located
within the enclave of Merdeka Stadium and National Stadium will start next year
and is expected to be completed in 2015.
In 2011, private investment is estimated to expand 12.5 per cent to RM86
billion.
The implementation of the 12 National Key Economic Areas (NKEA) is expected
to generate investment exceeding RM1.3 trillion and the private sector is
expected to finance 92 per cent of the NKEA.
--BERNAMA
