Budget 2018 Promises Better Transport Connectivity For KL
KUALA LUMPUR, Oct 28 (Bernama) -- Greater KL will benefit from the government's pledge to continuously improve the public transport infrastructure, InvestKL Chief Executive Officer Datuk Zainal Amanshah said.
He said commitment to Mass Rapid Transit 2 (MRT2) and High-Speed Rail, as well as expediting MRT3 completion by two years, in Budget 2018 was a positive sign that would improve Kuala Lumpur transport connectivity and make it an even more liveable city.
"These upcoming projects can be a catalyst for growth for the whole country and will have a direct and positive impact for businesses and investments.
"This will create a multiplier effect that will benefit the people in terms of cost of living, jobs and business opportunities," he said in a statement today.
In his Budget 2018 presented in Parliament yesterday, Prime Minister Datuk Seri Najib Tun Razak announced that MRT 3 "Circle Line" would be completed in 2025 -- earlier than the expected completion date of 2027.
Zainal said the government's emphasis on Industry 4.0 would help spur and enhance the digital economy in a big way.
He noted that the allocation of RM83.5 million for phase one of the Digital Free-Trade Zone infrastructure development showed the importance placed on the digital economy.
"This will boost Greater Kuala Lumpur as a regional digital hub for Malaysia.
"Besides ensuring state-of-the-art capabilities and capacity, we need to also have a strong human capital base that is ready to embrace and compete with our current standards of Industry 4.0 and the digital economy," he said, adding that it would also enable Malaysian businesses to tap into the regional and global economic growth.
Ambank Group Chairman Tan Sri Azman Hashim said to further strengthen the contribution of the capital market, the budget introduced several measures such as the exemption of stamp duty.
"That will promote a more active trading for exchange-traded funds and structured warrants, while the income tax exemption of management fees will incentivise the creation of a wider range of Sustainable and Responsible Investment (SRI) financial products to be offered to the market and the introduction of an alternative trading system is expected to allow trading of securities to be time-efficient," he said.
-- BERNAMA
