KUALA LUMPUR: International Trade and Industry Minister Datuk Seri Mustapa Mohamed is hopeful that there will be more SME-centric initiatives in the upcoming Budget 2018 announcement.
“We hope that there are SME-centric initiatives in the upcoming budget as the world is changing rapidly and we don't want our SMEs to be left out,” Mustapa said at the Khazanah Megatrends Forum yesterday.
We hope to have more focus on the SMEs as well more push towards SME development in the mainstream,” he added.
In a separate event, Mustapa said with trade contributing a strong part to the economy, the ministry is seeking a bigger allocation from Budget 2018.
He also said exports, led by electrical and electronic products, are likely to continue its strong streak till the end of the year.
“The August numbers, to be released on Oct 6, are strong and are expected to remain so for a couple more months,” he said, at a media briefing after the launch of Honeywell Asean headquarters yesterday.
Although there will be some deceleration in growth, overall numbers will be strong.
On the trade deficit between the US and Malaysia, he said there were several reasons including the fact that there are a large number of US companies doing business in Malaysia leading to more import products.
The recent purchase announcements by Malaysia Airlines for Boeing and AirAsia for GE engines would narrow the gap, he added.
Meanwhile, Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar said the 2018 Budget is expected to have elements that promote technology to be embedded into the Transformasi Nasional 2050 (TN50) initiative.
The country is looking into technology usage for better development for the people, Azman told reporters after his opening address at the Khazanah Megatrends Forum.
"We have heard today, technology, like any technology can be used for good and bad. And the country has grown on that basis. The budget for this year, I am sure will have elements of that.
"TN50, which is the government is working on and Khazanah is contributing, is looking into this future where we want to use the best of this technology with our people in order to produce better development for everyone," he added.