Anwar credits domestic investments for growth, says Budget 2025 will prioritise SMEs and MSMEs
Prime Minister Datuk Seri Anwar Ibrahim has attributed the country's positive investment performance this year to strong domestic investments.
Speaking at the Associated Chinese Chambers of Commerce and Industry of Malaysia’s (ACCCIM) 78th annual general meeting on Sunday (Oct 13), Anwar highlighted that the upcoming Budget 2025 would focus on creating more business and economic opportunities, with particular emphasis on supporting SMEs and MSMEs, as outlined in the Madani economic framework.
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00:00I agree that if we pay too much tax, it won't attract domestic investment.
00:18Right now, I have mentioned to many businessmen,
00:23we are lucky because there is foreign investment, but domestic investment is very high.
00:32So if we say we achieved a good success last year, this year,
00:39it's not just foreign investment.
00:42We achieved impressive growth, not only or not solely due to foreign direct investment,
00:53but a growing interest, growing confidence, growing commitment by our domestic players.
01:01So domestic investment has increased phenomenally and for that I thank you very much.
01:12Of course, following that, you say if there is an impressive investment from domestic,
01:20then I should not discourage you. I should then, should not tax you too highly.
01:32But you want to proceed, make sure there is peace, there is order, there is fairness, there is justice,
01:38I must tax a little.
02:08SME or PMKS will be given a special bonus in spending as well as in the economic framework of this body.
02:18We will also make sure the weaknesses in the balance sheet,
02:22KSN, which we have just appointed, seems to give very strong pressure.