Advancecon hopes government will continue spending on infrastructure
KUCHING: Advancecon Holdings Bhd (Advancecon) hopes that in the upcoming Budget 2021, the government will continue spending on existing and new infrastructure projects.
Advancecon also hopes the government will introduce new forms of tax incentives to companies which are involved in Solar Photovoltaic investment to accelerate the Return on Investment.
“As the pandemic remains a threat to socio-economic recovery, development and future growth, we hope that the government will take advantage of this situation with continued spending on existing and new infrastructure projects to boost connectivity as well as the trading of goods and services because such efforts are deemed necessary to accelerate the economy once the pandemic is well under-control,” group chief executive officer ( CEO) Datuk Phum Ang Kia said.
“Infrastructure projects that have high multiplier effects include the ECRL and Pan Borneo Highways.”
On another note, Advancecon was pleased by the recent announcement from the Prime Minister that special focus on the sustainability agenda will be included in Budget 2021, especially on addressing climate change and a green approach to drive the nation’s development based on a low carbon and climate resilience pathway.
“We hope the government will introduce new forms of tax incentives to companies like us who are involved in Solar Photovoltaic investment to accelerate our Return on Investment. Additional investment generated can be redeployed towards more Solar Photovoltaic projects around the country in realising the nation’s target of deriving 20 per cent of power generation via renewable energy sources by 2025.”
As for the property sector, Advancecon wished that the government continues to promote the affordability of housing and continues to maintain a low interest rate environment to enhance domestic purchasing power by ensuring inflationary pressures are subdued.
“This is crucial to balance economic resilience and mitigate the negative effects of the pandemic on the sector.”