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BUDGET 2024 - Coggle Diagram
BUDGET 2024
Priority of HCHV sector
Addressing premature deindustrialization which is <25% of GDP
Focus on HCHV areas
Outcome-based incentive using tiered system
create new economics cluster
expanding domestic network
provide balance between economy
environment sustainability
Tired reinvestment tax incomes
PIPC as development hub for chemical and petrochemical sector
Malaysia as an Investment Destination
Intensity efforts for high-impact investments
Develop high-tech industrial areas
Bayan Lepas, Penang
Kulim Hi-Tech Park, Kedah
Kerian, Northern Perak
Implement new policies for ease of doing business
MITI and MIDA responsibilities expansion
Facilitate FDI and DDI from application stage to investment realization
Global Islamic Economy Leader
Reevaluate Islamic financial sector: a modern banking method
International Conference on Islamic Economics and Finance (ICIEF2023)
Initiatives for Value-based intermediation (VBI)
Income tax exemption for ISSB
Full income tax exemption for Labuan IBFC related to Islamic finance
Internationalisation of startups
Goal: Top 20 in Global Startup Ecosystem by 2030
MYStartup platform development
RM28 billion
GLCs and GLICs funds for startups in HGHV fields
Support for capital funding or startups
Halal Industry Development
RM3 billion sales in 19th Malaysia international Halal Showcase
Halal Industry Master Plan 2030
Reduction of halal certificate processing period
i-TEKAD social finance program for micro-entrepreneurs
NIMP Targets (2030)
Total Investment: RM95 billion
Job opportunities: 3.3 billion
Median monthly salary: RM4510
Government Allocation
10% of NIMP investment for acceleration
2024 startup fund: RM200 million
Ekonomi Madani framework
Establish Malaysia as a regional economic champion
Restructure and reorganize the economic structure
Waqf Lands Development
Allocation of RM500 million soft loans
Initially allocated RM200 billion
Conclusion
Continuous efforts or economic restructuring
Collaboration between government and private sectors