SIBU: The economic recovery plan (Penjana) announced by Prime Minister Tan Sri Muhyiddin Yassin Friday is an affirmation of the government’s focus to restart, recover, revitalise and reform the country’s economy that has been badly hit by the covid-19 pandemic.
Sarawak United People’s Party (SUPP) Bawang Assan branch chairman Robert Lau said the direct fiscal injection of RM10 billion would boost the local economic sector.
“This opportunity must be embraced and utilised well by the local businesses. However, it will depend on its smooth and speedy implementation.
“So far, the earlier economic stimulus packages by the federal government have been well implemented generally,” said Lau on Saturday.
He noted that the Plan covered a wide scope with those sectors that were severely hit getting larger amounts, such as the tourism and car industries.
He said the property sectors also received a boost with the Home Ownership Campaign, waiver of stamp duties and Real Property Gain Tax (RPGT).
“There is a Chinese proverb that says in every crisis lies opportunity. It is true this time too and the opportunity lies in the field of digital economy.
“The Government has rightly provided plenty of incentives to businesses in this field ranging from direct grant to investment incentives,” he said.
He pointed out that direct grants included matching grant to micro business transition into digital business and private business to run ‘Shop Malaysia Online.
Examples of investment incentives were the RM1.2 billion for digital transformation for domestic venture capital and the Industry 4.0 where the government would move to online counters through digitisation.
