Battling inflation, labour shortage among Malaysian trade groups’ wish-list for 2023 budget

Battling inflation, labour shortage among Malaysian trade groups’ wish-list for 2023 budget


In the wake of the COVID-19 pandemic, digitalisation is key designed for SMEs to future-proof their businesses and to remain competitive in a situation.

Mr Chin of the SME Association told CNA that they hoped the government would extend the particular Industry4wrd Intervention finance, a financial support service for SMEs to embrace digitalisation as well as the Fourth Industrial Trend (4IR).  

“The fund should spread over 5 years but presently it has been fully used. There are many companies, specifically SMEs who have not really benefitted and wish to go digital plus embark on Industry four. 0, ” this individual said, adding the approval process could also be simplified.

This individual also hoped the fact that government would provide financial assistance for SMEs that subscribe to plans with Internet connections of more than 100mbps.

“SMEs are utilising more Web connectivity in their companies but Internet charges for Internet rate of more than 100 Mpbs are relatively higher, ” he mentioned.  

In 2019, SMEs contributed 38. 9 % to overall major domestic product (GDP), 48. 4 percent to total employment plus 17. 9 % to total exports.

The Federation of Malaysian Company Association (FMBA) informed CNA that it is hoping for a special fund to aid the mechanisation of farming.

This is in order to encourage farming of food or animal feed input by the existing small-scale farmers, unemployed or those who are interested in farming, its president Malik Ali said.  

MPOA’s Mr Tek additional that in a bid to mechanise the industry, the association proposed that the government grants or loans tax relief upon selected heavy equipment and equipment which are used in the plantation sector for a specific period.


Malaysian Travel and leisure Council president Uzaidi Udanis said the key to the tourism sector’s recovery is promotion of the country.  

“In common, we need more aggressive promotion and this needs a bigger allocation of funds. Even social me dia is not free. When the promotion is not aggressive, there is a risk of us being left out specifically as there is a competing market in ASEAN and other new markets such as Saudi Arabia, ” he told CNA.

He declared that the tourism in the land has improved since the reopening of the borders in April, but it could improve additional.  

He or she said that while visitor arrivals were more than Thailand during the first six months of the yr, Thailand has considering that upped their game and is very aggressive to pull tourists to the country.