Budget 2020 Highlights

227
- Advertisement -

18% discount across all Plus highways next year

Toll rates for cars at the Second Penang Bridge reduced from RM8.50 to RM7 effective Jan 1, 2020

RM50 million for the repair and maintenance of roads leading to Port Klang

Transport Ministry to commence feasibility studies on the Serendah-Port Klang Rail Bypass for cargo shipments and the Klang Logistics Corridor – a dedicated privatised highway connecting Northport and Westport, both projects estimated to cost RM8.3 billion

Additional RM50 million to stimulate public-private partnerships for the Kota Perdana Special Border Economic Zone at Bukit Kayu Hitam

RM1.1 billion to support projects for corridor development activities, including RM50 million for the development of the Chuping Valley Industrial Area in Perlis by NCIA and RM69.5 million for Kuantan Port-related projects by ECERDC

Additional RM50 million to My Co-Investment Fund under the Securities Commission Malaysia to help finance underserved SMEs

RM50 million to encourage SMEs to engage in more export promotion activities

Ceiling for the participation in each export fair raised to RM25,000 from RM15,000

Market Development Grant’s ceiling per company raised to RM300,000 yearly from RM200,000

RM10 million for Ministry of Entrepreneur Development to focus on advocacy and awareness for halal certification, halal product development and providing platforms for local players to tap on the US$3 trillion global halal market

Customised packaged investment incentives of RM1 billion to attract targeted Fortune 500 companies and global unicorns in high technology, manufacturing, creative and new economic sectors

Special investment incentive package worth RM1 billion per year for five years to local companies capable of penetrating overseas market

RM210 million to expedite digital infrastructure establishment in public buildings like schools

RM250 million will be set aside by MCMC to prepare broadband access via satellite technology to increase connectivity in rural Malaysia, especially Sabah and Sarawak

National Fiberisation & Connectivity Plan will adopt public-private partnership approach involving total investment of RM21.6 billion

Matching grant fund of RM25 million to encourage more pioneer digital projects that benefit fibre optic infrastructure and 5G

RM20 million to MDEC to groom local champions in producing digital content

RM50 million grant to develop 5G ecosystem to prepare for 5G transformation worldwide

50% matching grant of up to RM5,000 to increase the digitalisation of operations for Malaysian small and medium enterprises (SME)

RM20 million for Cradle Fund to promote early-stage innovations

A one-off RM30 incentive to all Malaysians aged 18 and above who have an annual income of not more than RM100,000 to speed up the adoption of e-wallet usage

RM20 million to develop the local eSports industry

RM810 million for Felda welfare

More than RM2 billion aid and subsidies to smallholders under various government land programmes, as well as increasing allowances for poor fishermen by RM50 to RM250 monthly

Government jobs worth RM1.3 billion dedicated for Bumiputera contractors

RM500 million in funding for women entrepreneurs

Minimum wage raised to RM1,200 starting January 2020 but will be limited to workers in major cities

Increasing maternity leave from 60 to 90 days, raising salary cap for those eligible for overtime payments from RM2,000 to RM4,000

Cola for civil servants to be raised by RM50 a month starting 2020

BSH scheme to include single Malaysians above 40 earning under RM2,000 monthly, and disabled people aged 18 and above with a monthly income of below RM2,000

To pay graduates unemployed for more than 12 months who find work, an extra RM500 a month for two years in addition to the salary they are paid

RM6.5 billion to launch #MalaysiaKerja initiative to provide better job opportunities for youth and women, and reduce dependence on low-skilled foreign workers

Increased allocations from RM60.2 billion to RM64.1 billion for the Ministry of Education

RM735 million to build new schools and upgrade schools to accommodate the rise in the nation’s population

RM783 million to repair dilapidated schools, especially in Sabah and Sarawak

Increased allocations from RM28.7 billion to RM30.6 billion to ensure access to quality healthcare for all

RM60 million for pneumococcal vaccination for all children

RM25 million to strengthen medical tourism

RM575 million for socio-economic assistance to senior citizens whose household income is below poverty level

RM25 million to expand food bank programme

RM100 million for strengthening Indian community, RM140 million for the welfare and economic development of the Orang Asli


Related reports:

Oct 11, Higher Inflation, Stable Job Market Next Year

Oct 11, Budget 2020 Allocates Total Expenditure of RM297B

Oct 11, Income Tax: The Rich to Pay More, Exemption for Women Re-Entering Job Market

Oct 11, SST to Collect RM28.3B in 2020

Oct 11, Malaysian Economy to Grow 4.8% in 2020 vs 4.7% in 2019