MSC MALAYSIA BUDGET COMMENTARY

KUALA LUMPUR, August 29, 2008: The Budget 2009 tabled by Prime Minister Datuk Seri Abdullah Ahmad Badawi is seen as empathetic and meticulous in light of the global financial climate, yet hopeful with a realistic growth forecast of 5.4% in 2009. The service sector which is projected to grow by 6.9% will be driven by growth in tourism, transportation, finance and banking as well as ICT-related industries, as noted in the recent Budget Speech.

Multimedia Development Corporation (MDeC) welcomes the various incentives in the Budget speech, which focused highly on empowering the people’s lives through socio-economic improvements. The Budget 2009 focuses on human capital development and more benefits for small and medium enterprises (SMEs) as well as the people.

The human capital development programs presented are parallel with the MSC Malaysia initiatives, as laid out in the RMK9. This is particularly relevant in the support for professional development which will further enhance MSC Malaysia programs such as the Knowledge Workers Development Initiatives and MSC Malaysia Technopreneur Development Programs. Focus also is given to enhance the facilities in polytechnics and community colleges which will increase the enrolment in the institutions. In line with this, MSC Malaysia looks forward to promoting ICT related courses to meet the demand of 100,00 ICT jobs to be created by 2010.

“Additionally, the double deduction to employers for sponsoring their employees to pursue postgraduate studies in ICT will definitely encourage more talents into the industry, which will provide the growing demand for knowledge workers in MSC Malaysia Status companies,’ said Dato’ Badlisham Ghazali, CEO of Multimedia Development Corporation, the custodian of MSC Malaysia.