The 2010 Budget, with the theme ‘1 Malaysia, Together We Prosper’, focuses on 3 strategies, namely:
• Driving the nation towards a high-income economy;
• Ensuring holistic and sustainable development; and
• Focusing on well-being of the Rakyat
The 2010 Budget allocation totalled RM189.5 billion. The breakdown is as follows:
• Operating Expenditure RM138.3 billion (73.0%)
• Development Expenditure RM51.2 billion (27.0%)
In the Budget announcement, among the niche areas with potentials in moving up the value chain as well as generate higher returns highlighted are tourism, information technology and communication (ICT), finance and Islamic banking, Halal and green technology industries.
The 2010 Budget has adopted 3 incentive proposals by MITI which are:
A.SME Development:
• Expenses incurred in registration for patent and trademark be allowable for single deduction; and
• Additional allocation of RM350 million to SME Corp. (RM200 million for soft loans,...
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