MITI lauds no new tax measure in Budget 2020

SHAH ALAM, Aug 6 ― The International Trade and Industry Ministry (MITI) has lauded Finance Minister Lim Guan Eng's comments yesterday that there would be no new tax measures in the upcoming Budget 2020.

Its Minister, Datuk Darell Leiking said when there are no new tax measures it's good for industries, which can then focus on being their best.

“(However) let's get into the details of what Lim meant and hope for better news once the budget is tabled,” he told reporters at the MITI Minister's Monthly Assembly at SIRIM Bhd, here today.

On the contingency package if the US-China trade dispute worsens and as mentioned by Lim,  Leiking said it, if any, would come from the MoF and MITI would probably be given information on how to mitigate in terms of trade and investments.

Regarding the US-China trade war, he said both were big countries that trade with Malaysia.

“They buy from us, and we buy from them. When they talk about finding a solution they have to do it quickly, because they owe us as some sort of responsibility. I call it global responsibility.

“When they have a problem,I think it is their responsibility as well to find solution, not only for them, but for the rest of the world because we're part of the global value and supply chain,” he added.

On the Apec 2020 which Malaysia will host, Leiking said he wants the ministry and it's 11 agencies to work together.

“Performance and success will define, and in this case, measure how MITI and its agencies co-exist and work together for the nation,” he added.

On Apec progress updates, he said MITI would begin work in November this year, as there would be a last meeting in Santiago, Chile. Prime Minister Tun Dr Mahathir Mohamad will then take over the Apec chairmanship from the Chilean President.

Malaysia will have the Apec inauguration meeting around December, where the Apec 2020 logo will be unveiled and programmes announced. ― Bernama