KUALA LUMPUR – The Ministry of Finance (MOF) will focus more on micro, small and medium enterprises (PMKS) in Budget 2024 to empower the sector, so that it can compete in the new economy to drive the country’s economic growth.
Deputy Finance Minister II Steven Sim Chee Keong said Budget 2024, which will be tabled on October 13, will be based on the Madani framework, by focusing on the value of development and employment from the PMKS sector.
“This is because PMKS is one of the main drivers of the economy, with its growth rate and job opportunities. Apart from that, the sector is the most affected, especially during the Covid-19 pandemic.
“Therefore, we need to revive PMKS, secondly, we also want to help the sector improve the value chain… raise the ceiling so that our PMKS can compete, not only in Malaysia, but globally in the new economy, digital, artificial intelligence and green economy,” he said.
He said this when met by reporters, at the documentary screening and announcement of the beneficiaries of the archaeotourism network for the northern region, today.
In the meantime, Sim said the budget planning process this time received the most responses, involving a total of 8,000 face-to-face responses and 11,000 through the ministry’s portal.
“What we want is that this Budget 2024 can reflect the aspirations of all levels of society in Malaysia, regardless of race, religion, gender and state, and we did a tour to all states to get views from all parties,” he added. – September 27, 2023