00:01Ladies and gentlemen, at ACCCIM, we believe that a strategic, balanced and adaptive approach
00:09is essential to fostering confidence, innovation and sustainable growing
00:15amid ongoing domestic and global uncertainties.
00:19We have submitted a comprehensive set of proposals for the 2027 budget
00:25addressing key areas such as rising costs of living pressures, operating cost challenges,
00:33workforce productivity and scale development, technology and AI adoptions,
00:38wind transitions, circular economy and, of course, food security.
00:45The 2027 budget strategies, measures and initiatives must be designed to sustain domestic demand,
00:52protect the livelihood of Malaysians and strengthen household recipients.
00:58At the same time, budget should focus, should reinforce key growth driver,
01:04sustain private investment momentum, enhance structural competitiveness for SMEs and strengthen our export.
01:15To translate this policy into actionable outcomes, ACCCIM has put forward a series of policy recommendations
01:24to strengthen Malaysian economic long-term growth.
01:27So, first, we believe the tax system should be further refined to better support business expansion,
01:35reinvestment and cash flow management.
01:38This includes enhancing corporate tax incentives for SMEs by raising the preferential tax threshold,
01:48strengthening investment incentives such as the reinvestment allowance and investment tax allowance,
01:55and improving tax administration to provide greater certainty and flexibility.
02:01A more realistic CP204 tax estimation mechanism and a more efficient tax refund process
02:09would further support effective cash flow management and reduce compliance burden.
02:15Second, Malaysia must continue to promote high-level investment and strengthen domestic competitiveness.
02:22We propose extending the Accelerated Capital Allowance, ACA, until 2030,
02:30enhancing reinvestment incentives and reviewing SME definition
02:36to ensure mid-tier companies are not excluded from the support measure.
02:42At the same time, digital transformation must remain a priority.
02:47Finally, the digitalization grant should be strengthened through a higher funding ceiling
02:52and greater flexibility to support phased technology adoption,
02:58while encouraging locally developed solutions and industry-specific technologies.
03:05Government procurement should also be leveraged to strengthen domestic value creation
03:10through a structure made by Malaysia-first framework.
03:17Third, we must ensure a fair and level reinfills amid an increasingly competitive market environment.
03:24Malaysia remains open to foreign investment and healthy competitions.
03:29But all businesses must operate under transparent and consistent rules.
03:34This requires a more balanced regulatory framework for foreign-owned businesses
03:39and cross-order e-commerce, including clearer registration and compliance requirements,
03:45stronger platform accountability, and enhanced consumer protection.
03:51Among others, we have proposed reviewing the import duty de minimis threshold,
03:57also requiring high-value foreign online seller with annual sales.
04:02No sales exceeding RM1 million to establish a Malaysian business presence
04:07with local representatives and strengthening product verification
04:12through certifications, mechanisms such as Siri and the Malaysian Authenticity Portal.
04:19Beyond these areas, strengthening food security must remain a strategic national priority.
04:26We advocate a more integrated approach to developing the every-folk sector,
04:31including expanding productive agriculture land to true integrated farming system, IFS,
04:40utilizing undeveloped GLC land through public-private partnerships,
04:45and introducing long-term land-leasing arrangement of, let's say, 30 to 60 years,
04:53so that this will give investors more confidence to invest.
04:59And this measure will encourage investment, improve productivity,
05:04and strengthen Malaysian long-term food procedures.
05:06So, let's take a look at the chat campaign course of the
05:09program that daw�� partners to seek to participate in the right-line
05:14because it has a big part that will not stay here now.
05:16listener will not be announced as extreme combination of
05:16Please hold up again.
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