Measures will also help autoparts producers boost exports, says MAI

KUALA LUMPUR: The measures announced in Budget 2017 are timely as it will assist local automotive component manufacturers to initiate their export readiness programmes, said Malaysian Automotive Institute (MAI) CEO Datuk Madani Sahari.

He said the agencies under the Ministry of International Trade and Industry – Malaysia External Trade Development Corporation, Malaysian Investment Development Authority and SME Corp Malaysia, would offer RM130 million worth of export promotion programmes under the budget.

Madani said businesses, in particular SMEs, would benefit the most from next year’s budget through allocations for entrepreneurship, export enhancement and the digital economy.

He also said the RM4.6 billion allocation for Technical Vocational Education and Training (TVET) institutions in Budget 2017 would eventually benefit the local automotive industry.

“The allocation for TVET is a good move to strengthen skills based education, essential in enhancing the talent needed within Malaysia’s techno-centric industries, in which the automotive industry is a beneficiary of,” he said.

On MAI’s initiatives, he said the institute would implement the Automotive Industry Development Programme next year, which aims to create 5,800 new job opportunities, 190 new businesses, enhance 1,440 existing companies and further develop 5,950 careers within the industry. – Bernama