MITI has submitted 11 key initiatives to the Finance Ministry for Budget 2027, focusing on boosting the semiconductor sector and expanding local exports.
GEORGE TOWN: The Investment, Trade and Industry Ministry (MITI) has submitted 11 initiatives to the Finance Ministry (MOF) for consideration in Budget 2027, which will be tabled next month.
Deputy MITI Minister Sim Tze Tzin said priority would be given to efforts to accelerate the semiconductor industry as a high-growth, high-value sector capable of creating more jobs for Malaysians.
“Among them, we want to accelerate the semiconductor industry because we want to focus on high-growth, high-value sectors that can create more jobs for Malaysians.
“One of the major applications we have submitted for MOF’s consideration is for the government to invest in the semiconductor industry with a substantial allocation actively,” he told reporters after officiating the MADANI Kita programme at Sekolah Menengah Kebangsaan Sungai Nibong here today.
According to the Dewan Rakyat calendar, Budget 2027, themed “Malaysia MADANI: Menggapai Di Langit, Mengakar di Bumi”, is scheduled to be tabled by Prime Minister and Finance Minister Anwar Ibrahim on Oct 9.
Sim, who is also Bayan Baru member of parliament, said MITI had also proposed allocations to help Malaysian companies, particularly small and medium-sized enterprises, penetrate new and previously underexplored overseas markets.
He said the ministry had also proposed programmes to encourage industries to increase their use of technology and improve their capabilities, enabling them to shift from low-value to high-value activities.
“We want to bring Malaysian goods and manufactured products to overseas markets, so we have sought allocations for the government to help our companies enter markets where our presence is still limited in Central Asia, such as Kazakhstan and Uzbekistan,” he said.
Sim said the 11 initiatives comprised new programmes and improvements proposed by MITI, while existing ongoing programmes would continue to be implemented.
“MITI hopes MOF will consider all the proposals, with emphasis on strategic investments that can support the country’s economic growth in the future,” he said.
