2023 budget will focus on automation and digital technology — MOF

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KUALA LUMPUR (September 12): Malaysia’s upcoming 2023 budget will focus on using automation and digital technology, and developing a future-ready workforce, said Deputy Finance Minister II Yamani Hafez Musa.

He said the government, together with various parties, is actively preparing the nation for digital transformation to drive sustainable and equitable economic growth.

For Malaysia to become a high-income country, it is important to ensure that the country’s digital ecosystem is strengthened and future talent is honed, he said.

“Digitalisation, technology adoption and innovation are important for sustainable growth.

“To support the development of innovation in Malaysia, the government has approved 99 research, development, commercialization and innovation projects and programs from 2021 to 2022, with a total investment of RM5.6 billion,” said he declared.

Yamani Hafez said so in his speech at the opening ceremony of the KL Venture Finance Forum 2022 and the 20th anniversary celebration of Malaysia Debt Ventures Bhd here on Monday, September 12.

In the same vein, the Deputy Minister said that the Ministry of Finance (MOF) has released a public consultation document for the 2023 budget on the “Policy on the Use of Research Products, Services and Technologies and local development (R&D) in public procurement”. efforts to empower the technology sector.

“It is about protecting and developing local industries, reducing dependence on imported goods, increasing competitiveness and resilience, and developing local technological capabilities to support the transfer ecosystem of technology, commercialization and commercialization of the results of local R&D”, he added.

Meanwhile, Yamani Hafez said the country’s economic growth momentum is expected to remain stable in the third quarter of 2022, supported by robust economic and social activities, as well as strong domestic and foreign demand.

“Therefore, the government is confident that the Malaysian economy is capable of meeting the official gross domestic product projection for 2022, which is between 5.3% and 6.3%,” he said.

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