Maritime industry hoping govt to consider requests
MANCHESTER: Numerous players in the maritime industry are looking forward to the tabling of Malaysia's Budget 2020 next month, hopeful that the government will seriously look into specific areas of the industry to spur its growth.
These include outlining policies and giving out incentives to encourage local companies to compete on the global stage.
Malaysian Shipowners Association chairman Datuk Abdul Hak Md Amin said he hoped the government would look deeper into certain issues that have stunted the industry's growth for quite some time.
“We hope the government would waive the income tax for a shipping company, of which currently lasted only until Dec 2020, permanently. With the permanent waiver of the income tax, shipping companies can plan and invest in new ships, hence increasing the Malaysian tonnage.
“We also hope the government would fully reinstate the Cabotage Policy as the abolishment has distorted the industry growth,” he said when contacted by Bernama.