OCBC Bank CEO Mr Tan Chor Sen lauded the government’s Budget 2024 calling it forward-looking toward achieving the ideals of the Madani economy through the highest-ever National Budget.
Tan said the big budget is a move to build a better Malaysia by positioning the country as a leader in the Southeast Asian economy by supporting start-ups and making Kuala Lumpur a digital industrial hub is commendable. The efforts will go a long way toward transforming the nation from a labor-oriented to an innovation-led economy.
OCBC said it sees the wisdom behind the larger picture of fostering greater economic integration with its neighbouring countries, nurturing more competitive companies to penetrate the ASEAN market, and facilitating trading activities.
The bank noted the support for the nation’s economic backbone – MSMEs – which continues to grow through the RM44 billion allocation in loans and guarantees, including the grants for digitalisation. The move is said is to improve efforts to encourage adoption of sustainable practices such as installing solar panels is on the right track and the bank said it will lend its utmost support to this.
And is excited about the government’s proposal to extend support and tax benefits to those involved in Sustainable & Responsible Investments (SRI).
OCBC said the National Budget is one for the rakyat and does well to make good the unity government’s realigned 12 th Malaysia Plan inclusive of the National Energy Transition Roadmap, New Industrial Master Plan 2030 and the Madani Economy Framework which will serve to achieve sustainable development and reinvigorate the economy.
