25 October 2017, Kuala Lumpur – The 2018 Budget, which will be tabled in the Dewan Rakyat on Friday, will reflect a economy which is more sustainable and able to reach the target group, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed.
“The new economic model will replace the less effective old one. As we know the existing economic model has some elements such as low wages as well as excessive subsidies,” he told a news conference after a dialogue session and information sharing with women entrepreneurs here today.
At the same event, Mustapa also launched the re-branding of SME Corp Malaysia’s One Referral Centre, formerly known as One Referral Centre SME Corp Malaysia.
Commenting on the subsidies, he said, the government would continue to subsidise. However, he said, they would be rationalised to benefit the targeted group.
Meanwhile, the afternoon tea ceremony, attended by 200 women entrepreneurs, was aimed at obtaining feedback and suggestions on women’s entrepreneurship policies and programmes in Malaysia.
Mustapa also said the prime minister would announce something specific to Malaysian women entrepreneurs.
“It’s something to look forward to,” he said.
According to the results of the economic census conducted in 2016, women entrepreneurs accounted for 20.6 per cent (186,855) of the 907,065 small and medium enterprises in the country.
Mustapa also commented on Prime Minister Datuk Seri Najib Razak’s views on Budget 2018 which was posted in his blog yesterday.
Najib had said the Budget 2018 would have new initiatives and several major announcements to benefit all Malaysians.
“This budget will continue to be guided by my goal to correct the problems of the past and to make Malaysia stronger, more competitive at home and abroad; to create a Malaysia that protects the vulnerable and is fair to all; and, a Malaysia where none of our brothers and sisters are left behind,” he said in his blog.