Prospering the Nation, Enhancing the Well-Being of Rakyat: A Promise Fulfilled, 2013 Budget

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According to the Prime Minister Datuk Seri Najib Razak, who is also Finance Minister, at the Dewan Rakyat on Friday, September 28 tabled that the Budget 2013 themed "Prospering The Nation, Enhancing Well-Being of the Rakyat: A Promise Fulfilled" . 2013 budget was formulated with a focus on improving the living standards of people across the country, ensuring sustainable economic growth, prudent spending and reduce the country's fiscal deficit with the overall goal of focusing on the welfare of the people. The Government will ensure people get the best services and maximum benefits as a result of the implementation of development programs and projects in 2013, the global economic environment is expected to improve, economic growth is projected to grow more strongly at 4.5 percent to 5.5 percent. Though this, the first positive implication is increase economic growth through increased investment activity. Economic growth will continue to be driven by foreign direct investment and domestic. In the first half of 2012, private investment increased to 75.3 billion dollars from 59.8 billion dollars in the same period in 2011. This trend is expected to continue in 2013 with private investment is expected to increase to 148.4 billion dollars. In order to stimulate domestic investment and accelerate the participation of Malaysian companies in the global supply chain, the Government has provided funds Domestic Strategic Investments worth 1 billion dollars under the Investment Development Authority of Malaysia. The fund aims to take advantage of outsourcing activities and the acquisition of technology by local companies. In addition, the government has also introduced incentives for the acquisition of foreign companies and special tax rates to encourage local service providers to merge into larger entities. Besides, Small and Medium Enterprises (SMEs) play an important role in the economic transformation of the country. As to accelerate the growth of SMEs and the expansion...
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