KUCHING: The 2025 Budget reflects the government’s commitment to fiscal reform, economic growth, and improving the lives of Malaysians.
According to UOB Malaysia CEO Ng Wei Wei, the government’s gradual approach to fiscal consolidation balances responsibilities and maintains stable growth drivers.
“We welcome the introduction of the New Investment Incentive Framework, which strategically promotes high-value economic activities, particularly in sectors like Electrical and Electronics (E&E) and Artificial Intelligence (AI),” Ng said in a statement.
“By incentivising education in emerging technologies and strengthening local supply chains, the framework aims to create high-paying jobs and foster regional economic development.”
Ng also praised the budget’s emphasis on Environmental, Social, and Governance (ESG) principles.
“The introduction of a Carbon Tax on the iron, steel, and energy sectors by 2026 is a significant step towards incentivising low-carbon technologies,” she added.
“Aligned with international regulations like the EU’s Carbon Border Adjustment Mechanism (CBAM), this measure demonstrates the government’s firm commitment to decarbonisation.”
