25th October 2014
CA Technologies applauds the Malaysian government on unveiling yet another people- and business-friendly 2014 Budget, and one which offers a strong buffer against economic uncertainties as we move into 2014.
The age of innovation is upon us, and we are seeing many exciting socio-economic developments across many Asian nations, including Malaysia. CA Technologies views these allocations as an encouraging display of commitment by the government to transform the nation and accelerate the growth of a high income economy. Companies, organizations, and governments need to be agile and innovate to succeed and better connect with their constituents in this connected market. This underscores the increasingly important role that IT plays in business transformation to drive greater productivity, collaboration, efficiencies and sustained growth. We are confident that Budget 2014 will accelerate Malaysia’s competitiveness regionally and globally.
In particular, CA Technologies welcomes the RM1.8 billion implementation of the Second Phase of the High Speed Broadband (HSBB) project to provide coverage in urban and suburban areas, benefitting 2.8 mil households and increasing Internet speech to 10 Mbps. This development not only opens up opportunities for people in regional areas to better participate in the digital economy, but will also lead to improved communications, greater choice through e-commerce, greater employment opportunities and savings in both time and money.
CA Technologies views the special incentives allocated for entrepreneurial and SME development positively as well, specifically the RM50 million allocation to the Malaysian Global Innovation and Creativity Centre (MaGIC) to empower entrepreneurs, and the RM120 million allocation to SMEs to increase innovation and productivity. These considerations will further promote a culture of creativity and innovation amongst individuals and SMEs and drive business and economic growth.
The incentives allocated for environmental conservation and resource management are also good news. The tax allowance for the purchase of green technology equipment and tax exemption on the use of green technology services and system will enable businesses to leverage on technology as a sustainability game changer. Sustainability is a team sport, and we are all stewards of the planet for future generations.