Financial aid for Chinese, Indian entrepreneurs reflects fairness, says analyst

Prime Minister Tun Dr Mahathir Mohamad receives a copy of Budget 2020 from Finance Minister Lim Guan Eng in Parliament October 11, 2019. — Picture by Miera Zulyana
Prime Minister Tun Dr Mahathir Mohamad receives a copy of Budget 2020 from Finance Minister Lim Guan Eng in Parliament October 11, 2019. — Picture by Miera Zulyana

KUALA LUMPUR, Oct 12 — The proposed disbursement of financial assistance to Chinese and Indian entrepreneurs spelled out in the 2020 Budget can be seen as a Pakatan Harapan government initiative to be fair to all races, said an economic analyst.

Prof Emeritus Dr Barjoyai Bardai said the distribution of financial aid should be observed in the context of the racial composition of the population and not from the racist perspective.

“The allocation according to races reflects that the government is being transparent, fair and concerned in the distribution of financial assistance.

“The budget this time around is more sensitive in considering the broader perspective of entrepreneurs,” he told Bernama today.

During the 2020 Budget 2020 presentation on Friday, Finance Minister Lim Guan Eng announced various funding schemes for entrepreneurs and small and medium enterprises (SMEs).

For Indian and Chinese entrepreneurs, the government is allocating RM20 million under the Indian Entrepreneur Development Scheme, and RM100 million to the Chinese Community Small Industries Fund, respectively, while RM445 million will be allocated to Bumiputera entrepreneurs to improve access to financing, business premises preparation, and entrepreneurial training.

Barjoyai expressed surprise over the government’s concern towards Bumiputera by proposing a huge sum in the budget to its business community.

“This is a positive step as it motivates and injects more interest in balancing business development in the country,” he said.

Meanwhile, Malaysia-China Business Council director Datuk David Chua said the proposed disbursement of financing aid to all races shows that the government is treating the people fairly and equitably.

“The concept of channeling allocation to each race can prevent any dissatisfaction in the society. In fact, it can strengthen the bond of friendship among races,” he said.

Meanwhile, SME Association of Malaysia national president Datuk Michael Kang Hua Keong said he was overwhelmed by many incentives proposed for SMEs.

“The 2020 Budget is the best as it focuses on economic development. With the allocations provided, we will work with the government to further strengthen the enterprise industry, including digital and automated business operations,” he said. — Bernama

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