PUTRAJAYA: The need to loosen borrowing procedures, tax matters and the hiring of foreign workers are among the main issues to be highlighted in the preparation for Budget 2020, Finance Minister Lim Guan Eng (pic) said.
Speaking during Budget Consultative Council 2020 meeting here yesterday, he said, the need to ease borrowing procedures to enable businesses gain access to loans would be addressed.
Issues about asset delivery would also be given attention as there is a view that official affairs could be simplified and problems resolved efficiently by reducing bureaucratic procedures, thus improving the delivery, he said.
The preparation for Budget 2020 would also take into account concerns about the ongoing trade war between the United States and China which could affect the country’s economic climate, he said.
Also to be given attention in the Budget 2020 preparation according to him, is on the need to transform the industry towards Industry 4.0 (IR 4.0) so that the industry could become a part of the much needed digital economy to enable them to continue growing.
Lim also said matters regarding the social and security issues would also be given emphasis in the preparation of the Budget 2020.
“Security is the prerequisite for strong economic development. If we do not have a safe environment, it’s hard to continue the development,” he said. – Bernama
