{"id":15146,"date":"2021-11-22T13:19:47","date_gmt":"2021-11-22T05:19:47","guid":{"rendered":"https:\/\/www.rakansarawak.com\/v3\/?p=15146"},"modified":"2021-11-22T13:26:07","modified_gmt":"2021-11-22T05:26:07","slug":"strengthening-and-rebuilding-malaysias-resilience","status":"publish","type":"post","link":"https:\/\/www.rakansarawak.com\/v3\/2021\/11\/22\/strengthening-and-rebuilding-malaysias-resilience\/","title":{"rendered":"Strengthening and Rebuilding Malaysia\u2019s Resilience"},"content":{"rendered":"\n

As Malaysia is slowly recovering and economically reopening from the pandemic, the National Budget 2022 is focusing on strengthening business resilience and health system in order to face the challenges ahead.<\/p>\n\n\n\n

This was said by Minister of Finance, YB Senator Tengku Dato\u2019 Sri Zafrul Tengku Abdul Aziz when he delivered the National Budget 2022 on 29th<\/sup> July 2021.<\/p>\n\n\n\n

Investment in Key Sector<\/strong><\/p>\n\n\n\n

\u201cThe Government remains committed in ensuring that Malaysia continues to be an attractive investment destination, providing significant spill over effects to the economy,\u201d<\/p>\n\n\n\n

\u201cThe second strategy (of Second Focus) is to drive strategic investment in key sectors and strengthen growth drivers,\u201d said Tengku Dato\u2019 Sri Zafrul Tengku.<\/p>\n\n\n\n

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The National Budget 2022 is committed in ensuring Malaysia continues to be an attractive investment destination, providing significant spill over effects to the economy \n(Image source: Pixabay)<\/figcaption><\/figure><\/div>\n\n\n\n

Below are programmes to strengthen the national economy by driving investment in key sectors.  <\/p>\n\n\n\n

No<\/strong><\/td>Programme<\/strong><\/td>Allocation<\/strong><\/td><\/tr>
1<\/td>Special strategic investment fund to attract strategic foreign investment among multinational corporations<\/td>RM2 billion<\/td><\/tr>
2<\/td>Trade and Investment Mission to high-impact investment and new export markets<\/td>RM25 million<\/td><\/tr>
3<\/td>Skills training programme to train 20, 000 workers to support industry clusters<\/td>RM80 million<\/td><\/tr>
4<\/td>State skills development programme to train 5,000 workers in fields such as oil and gas welding, industrial automation and mechatronics<\/td>RM50 million<\/td><\/tr>
5<\/td>Smart Automation matching grant to 200 manufacturing and services companies<\/td>RM100 million<\/td><\/tr>
6<\/td>Extension of Reinvestment Allowance<\/td> <\/td><\/tr>
7<\/td>Programmes for Halal products development for MSMEs<\/td>RM25 million<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

(Source: Touchpoints Budget 2022 Measures)<\/em><\/strong><\/p>\n\n\n\n

In preparing for the endemic phase of COVID-19<\/strong><\/p>\n\n\n\n

In the Economic Outlook 2022, Tengku Dato\u2019 Sri Zafrul noted that the 2022 Budget will focus on rebuilding the nation’s resilience, beginning with the nation’s public health system.<\/p>\n\n\n\n

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The 2022 Budget will focus on rebuilding the nation’s resilience through strengthening the nation’s public health system specifically on managing COVID-19 \n(Image source: Pixabay)<\/figcaption><\/figure><\/div>\n\n\n\n

For this, an allocation of RM32.4 billion to the Ministry of Health will be provided for their operating and development expenditure.<\/p>\n\n\n\n

Tengku Dato\u2019 Sri Zafrul added that an additional RM4 billion will be provided specifically to continue the agenda on managing COVID-19, which includes RM2 billion to fund the vaccination programme.<\/p>\n\n\n\n

\u201cAnother RM2 billion will be provided to enhance the capacity of public health service facilities including the purchase of medicine, consumables, personal protective equipment (PPE) and health kits,\u201d<\/p>\n\n\n\n

\u201cIn the spirit of Keluarga Malaysia<\/em>, the Ministry of Health have also outsourced to private hospitals and hospitals under other Ministries in order to optimise the health capacity in the country,\u201d he said.<\/p>\n\n\n\n

To continue the fight against COVID-19, the Government intends to procure antiviral drugs that have been found to be effective against various viruses including COVID-19.<\/p>\n\n\n\n

In addition, the National COVID-19 Immunisation Programme will be enhanced to provide the third dose of the COVID-19 vaccine as a booster shot to all adults as well as continuing the vaccination of children aged 12 to 17 years old.<\/p>\n\n\n\n

Tengku Dato\u2019 Sri Zafrul added that the Government has signed agreements to procure 88 million doses, which is equivalent to 140 per cent of the Malaysia population which is sufficient to provide a third dose to all residents aged 12 years old and above.<\/p>\n\n\n\n

As of next year, he added that the Government proposed to provide individual tax relief and tax deduction to employers on costs associated with the adoption of self-funded booster vaccines.<\/p>\n\n\n\n

Strengthening education and human capital<\/strong><\/p>\n\n\n\n

Aside from the economy and health system, Tengku Dato\u2019 Sri Zafrul said in the Economic Outlook 2022 that education and strengthen human capital should also be strengthened to rebuild the national resilience.<\/p>\n\n\n\n

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Lifelong learning through upskilling and retraining initiatives will be intensified to enhance education and strengthen human capital \n(Image source: Pixabay)<\/figcaption><\/figure><\/div>\n\n\n\n

\u201cTo enhance education and strengthen human capital, lifelong learning through upskilling and retraining initiatives will be intensified,\u201d<\/p>\n\n\n\n

\u201cThe intent is particularly vital in equipping the workforce with the right digital and technological skills to remain relevant post-pandemic,\u201d he said.<\/p>\n\n\n\n

In addition, efforts will be intensified to foster productivity through teleworking and increase workforce opportunities in securing decent jobs in the digital era.<\/p>\n\n\n\n

An allocation of RM1.1 billion is provided for training and upskilling programmes targeting 220,000 participants.<\/p>\n\n\n\n

Reskilling\/Upskilling<\/strong><\/td>Agency<\/strong><\/td>Target<\/strong><\/td><\/tr>
HRDCorp<\/td>HRDC<\/td>36, 000<\/td><\/tr>
Regional Corridors<\/td>Corridors<\/td>16, 000<\/td><\/tr>
PRUV-ATM<\/td>Perhebat<\/td>5, 000<\/td><\/tr>
SLDN Plus<\/td>JPK<\/td>10, 000<\/td><\/tr>
KPT-CAP<\/td>KPT<\/td>20, 000<\/td><\/tr>
KPT-PACE<\/td>KPT<\/td>45, 000<\/td><\/tr>
TVET Training<\/td>JPPKK<\/td>25, 000<\/td><\/tr>
MITI Reskilling<\/td>MITI<\/td>24, 000<\/td><\/tr>
MDEC<\/td>MDEC<\/td>12, 000<\/td><\/tr>
Upskilling for Deeptech and Future Skills<\/td>MOSTI<\/td>5, 000<\/td><\/tr>
Peneraju Skil and Peneraju Teknologi<\/td>JPM<\/td>3, 000<\/td><\/tr>
Partnerships with State Governments<\/td>FMSDC<\/td>5, 000<\/td><\/tr>
PERKASA TVET<\/td>PTPK<\/td>13, 000<\/td><\/tr>
Creative Graduate Incubator Programme<\/td>MyCreative Ventures<\/td>1, 000<\/td><\/tr>
TOTAL<\/strong><\/td>220, 000<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

(Source: Touchpoints Budget 2022 Measures)<\/em><\/strong><\/p>\n

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