Budget 2018 well received by Labuan chambers of business

LABUAN: The Budget 2018 has been well received by a crosssection of people, with business chambers here describing it as comprehensive in covering the interest of all groups.

Labuan Indian Chamber of Commerce and Industry President, Datuk Dahlif Singh said the proposals were consistent with the government’s efforts at improving the peoples’ economic standing.

“I believe with the highest funding allocated for the economic sector, it will certainly help boost economic activities,” he told Bernama in responding to the Budget 2018 unveiled by Prime Minister Datuk Seri Najib Tun Razak yesterday.

Najib announced a total of RM26.34 billion to push forward the country’s economy, RM11.72 billion for the social sector, RM5.22 billion for security and RM2.72 billion for general administration.

Daliff said the allocation would give direct benefits to the business chambers and local entrepreneurs.

“The budget reflects the government’s credibility and ability in managing the country,” he said.

He also commended the government’s focus on oil and gas and petroleum related development projects, with Labuan being the oil and gas hub.

“We strongly hope there will more downstream activities in the oil and gas sector for the local people and the businesses,” added Daliff.

Labuan Malay Entrepreneurs Chamber (DUML) President Datuk Seri Mohd Alias Abd Rahman described the budget as among the most comprehensive and which would benefit all sectors of society.

Alias, also the Labuan Liberty Port Management Sdn Bhd (LLPM) Chief Executive Officer, said people at all levels must think positive and be prepared to boost their competitiveness to further strengthen the country’s economy, especially that of Labuan.

“The budget covers many aspects and would have a positive impact on economic growth.

“The government’s approval for the feasibility study on the bridge to link Labuan to the mainland is certainly a big boost to the island economy,” he added.

Alias also said the budget showed that the government was taking pragmatic steps to promote the export industry, concluding that it would help bring about an economic transformation for the country. — Bernama