Budget 2020: Wealth creation opportunity for all, says Bursa Malaysia

Budget 2020: Wealth creation opportunity for all, says Bursa Malaysia

KUALA LUMPUR:  Budget 2020 offers a wide range of programmes and incentives to help ensure businesses and Malaysians from all walks of life have opportunities for wealth creation and well-being under Shared Prosperity Vision 2030, said Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift.

In a statement, he said the stock exchange operator commended the government’s commitment towards boosting economic growth, education and investing in people.

“Given the significance of the small and medium enterprise (SME) to the Malaysian economy, incentives to broaden the funding ecosystem for SMEs and start-ups, which complement our LEAP Market in bridging the funding gap, provide a continuum of capital raising avenues that promote the growth of SMEs.

“Furthermore, we believe the government’s strong developmental and investment focus in the new economy and digital era will bring large multiplier effects to transform and lift our economy up the value chain,” he said.

Umar said the special investment incentives to attract Fortune 500 companies and “global unicorns” in the high-tech, manufacturing, creative and economic sectors could help accelerate Malaysia’s growth by contributing innovation, strategic alliances and the transfer of technology and knowledge that could increase the competitiveness of Malaysian companies.

“Efforts to position Malaysia as the centre of excellence for Islamic finance is highly lauded as it will ensure continued robust development of the ecosystem and solidify Malaysia’s global leadership in this space.

“The government’s emphasis on laying future-focused strategies, driven by technology, innovation and entrepreneurship, bodes well in the long-term to boost investor confidence in Malaysia’s sustainable growth,” he added.

Umar said the capital market was a ready platform to support companies with aspirations to take their business to the next level.