KUALA LUMPUR (Oct 13): The Kuala Lumpur and Selangor Chinese Chamber of Commerce and Industry (KLSCCCI) has proposed for Budget 2025 to allocate additional funding to further drive digital integration and boost efficiency among the small and medium enterprises (SMEs).
President Datuk Ng Yih Pyng said establishing clear guidelines and a proper follow-through process would ensure that these grants are accessible and utilised effectively.
“We urge the government to enhance financing options and offer flexible loans, particularly for manufacturing and services businesses to better navigate economic challenges.
“We also call for continuous efforts to create a supportive business environment that promotes investment, innovation, and global competitiveness,” he said at the Associated Chinese Chambers of Commerce and Industry of Malaysia’s (ACCCIM) 78th annual general meeting here on Sunday.
Prime Minister Datuk Seri Anwar Ibrahim was also present to officiate the event.
Ng also urged the government to introduce incentives, such as tax breaks and work visas, to attract and retain talent, in order to address the shortage of skilled professionals in the country,
He noted that last year, Bank Negara Malaysia had highlighted that nearly 500,000 Malaysians, mostly skilled professionals, were working overseas.
“Addressing this brain drain is crucial to become a global leader in high-tech industries,” he said.
At the same time, Ng also called for increased grant support from the government and relevant agencies to enable SMEs to invest in new technologies, expand operations, and remain competitive locally and globally.
This would strengthen the resilience of these businesses and stimulate national economic growth, ensuring that SMEs would continue to contribute significantly to Malaysia's prosperity, he added.
Source: https://theedgemalaysia.com/node/729986