Hanifah Hashim, Chief Executive Officer/Head Malaysia Fixed Income & Sukuk, Franklin Templeton GSC Asset Management Sdn. Bhd.
Malaysia unveiled an expansionary budget for 2021 with a twin focus on easing the people’s burden and to get the economy back on track, on the back of the profound impact caused by COVID-19. Hence, the focus of the budget was distributing income to the broader segment of the population and protecting jobs. The RM322.5 billion allocated is the largest national budget on record. Despite the challenges, the government is optimistic of a strong rebound in 2021 with GDP growth forecast of 6.5% to 7.5% compared to an expected contraction of 4.5% in 2020, anchored by the anticipated improvement in domestic demand, global growth and international trade.
KUALA LUMPUR, 11 NOVEMBER 2020 – The 2020/21 Malaysia Salary Guide by Kelly Services was revealed today, emphasising on the need for collaboration between the public and private sector to generate more opportunities for jobseekers, and lower Malaysia’s unemployment rate. The report simultaneously stressed the need for digital skills, a key demand by employers across almost every industry.
Following the outbreak of COVID-19, the Malaysian government took precautionary measures to protect the health and safety of its people by announcing the Movement Control Order (MCO). This resulted in a tidal wave of digital transformation across all organisations, substantially increasing the demand for highly skilled talent who are able to quickly adapt to new technologies.
Kuala Lumpur, 11 November 2020 - AIMS Data Centre (“AIMS”) applauds the government on the allocation of RM1 billion for the Industrial Digital Transformation Scheme, which aims to boost digitalisation activities. This allocation will enable more industry players to benefit from it especially in accelerating their digital transformation. This fund is made available until 31st December 2023 as of the Budget 2021 announcement by the Minister of Finance, YB Senator Tengku Dato' Sri Zafrul Tengku Abdul Aziz on 6th November 2020.
Budget 2021 has been crafted for Malaysians with the theme of “Teguh Kita, Menang Bersama”. It’s an Economic Recovery Plan, centred on the 6R approach of Resolve, Resilience, Restart, Recovery, Revitalize and Reform. A total of RM 322.5 billion has been allocated by the government to attain its objectives which focuses on Rakyat’s well-being, Business Continuity and Economic Resilience.
