Here's what our CEO Sven Schneider has to say about Budget 2021:
“We need a strong signal not only for the domestic market, but also for foreign market observers to attract investments and thereby create additional employment opportunities considering the recent development in the labour market.
“A focus of the government to offer special tax rates is indeed crucial to incentivise foreign corporations and we welcome this measure. However, we have to highlight that the recent foreign employment policy by Kementerian Sumber Manusia (MOHR) is not consistent with the provision of tax incentives in order to attract investors. The new policy may deter some companies, hinder expansions as well as technology and knowledge transfer. In the end, we fear that a well-intended Employ-Malaysians Policy will destroy more jobs than it ever could create”
EUROCHAM Malaysia appreciates that the budget focuses its on-going expenditure priorities on people well-being, business continuity and economic resilience. However, we strongly believe that all ministries should align with the budget strategies to attract FDI and revive the local labour market together! #EUMYstrongertogether