KUALA LUMPUR, October 15 — Leading technology provider, K Raman, has expressed its support for Malaysia’s 2024 budget, commending the government’s dedication to economic restructuring within the framework of Ekonomi Madani. The budget aligns with the recently conducted Mid-Term Review of the 12th Malaysia Plan, reinforcing the country’s commitment to economic transformation. K Raman emphasizes the pivotal role of digital technology in this transformation and is delighted to witness the recognition of digital capabilities as a key driver in Budget 2024.
A substantial allocation of RM100 million in grants for Micro, Small, and Medium-sized Enterprises (MSMEs) to enhance their digitalization efforts is noted as a significant step towards bolstering the nation’s competitiveness. Additionally, the availability of RM900 million in loans through Bank Negara Malaysia (BNM) to promote SME productivity via digitalization and automation will contribute to Malaysia’s journey towards becoming a high-income nation.
The focus on developing local talent is also highly appreciated. Budget 2024 designates RM1.6 billion to HRD Corp for the purpose of fostering skills among entrepreneurs and underserved communities, aligning with K Raman’s mission to support the growth of local talent. Education takes center stage in the budget, forming the foundation for Malaysia’s sustainable and inclusive growth. The recognition of the role of Information and Communication Technology (ICT) facilities and connectivity in education is lauded, as well as the establishment of a dedicated Artificial Intelligence (AI) faculty at Universiti Teknologi Malaysia.
Sustainability emerges as another key focus of Budget 2024. The budget outlines measures in line with targets set by the National Energy Transition Roadmap (NETR). These include funding to facilitate the transition to sustainable energy, enhancements to the Corporate Green Power Programme, and incentives for companies investing in Measurement, Reporting, and Verification (MRV) processes related to carbon projects.
K Raman, an organization committed to achieving carbon negativity by 2030 and eradicating all historical emissions by 2050, aligns closely with Malaysia’s efforts to promote sustainability and take concrete steps toward achieving national sustainability goals. K Raman looks forward to collaborating with stakeholders from both the private and public sectors to fulfill the objectives of Budget 2024, working together to drive sustainable growth and development in Malaysia.
Note: The content of this news article is based on a commentary provided by K Raman.
