MAI: Bud­get boon for au­to­mo­tive

The Star Malaysia - StarBiz - - News -

KUALA LUMPUR: Bud­get 2018 is set to boost the na­tion’s au­to­mo­tive sec­tor via direct and in­di­rect pos­i­tive im­pact on var­i­ous par­ties in­volved in the sec­tor, said the Malaysian Au­to­mo­tive In­sti­tute (MAI).

Chief ex­ec­u­tive of­fi­cer Datuk Madani Sa­hari said: “The bud­get pro­vides a spe­cial ap­proach in pre­par­ing Malaysia’s growth in ac­cor­dance with the In­dus­try 4.0. Man­u­fac­tur­ers of ve­hi­cle com­po­nent (ven­dors) can shift into higher gear, re­sult­ing from the RM245mil al­lo­ca­tion set aside un­der the bud­get to up­grade smart man­u­fac­tur­ing fa­cil­i­ties,” he told Ber­nama.

Madani said that the fo­cus given to tech­ni­cal and vo­ca­tional ed­u­ca­tion train­ing would pave the way for new ca­reer op­por­tu­ni­ties and ca­reer en­hance­ment for those join­ing the au­to­mo­tive in­dus­try with the ne­c­es­sary skills.

“The au­to­mo­tive in­dus­try needs many em­ploy­ees who are highly-skilled in ev­ery as­pect, be it man­u­fac­tur­ing or after-sales,” he said, adding that the first thrust of in­vig­o­rat­ing in­vest­ment, trade, and in­dus­tries would stim­u­late more in­clu­sive in­vest­ment and busi­ness.

The al­lo­ca­tion of RM1.25bil to in­crease ex­ports would spur the rate of ex­ports for com­po­nent man­u­fac­tur­ers.

“More in­ter­est­ingly, the al­lo­ca­tion for mi­cro fi­nanc­ing, pre­sented in the bud­get will hope­fully be an in­cen­tive to small and medium en­ter­prises to be in­volved in the au­to­mo­tive sec­tor,” he said. — Ber­nama

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