Putting Things In Motion

As we push onward into the year, the new policies and programmes that parliament has put in place in budget 2020 have kickstarted. The peak speaks to leaders in several social sectors to speak on how some of these allocations will continue to play out.

- Ellfian Rahim, Neda Al-Asedi & Swaroopini Udhaya Nair

The announcement of Budget 2020 in the last quarter of 2019 received generally positive reactions among the public. In line with the Shared Prosperity theme, several initiatives have been announced to boost employment rates among the youth and women in Malaysia, encourage entrepreneurial activity in the small and medium enterprises (SME) sector, as well as more targeted execution of financial aid and subsidies for those in the B40 category. On the business side, the sectors of technology, communication, tourism, and property are expected to benefit from tax breaks and allocated stimulus, especially with the move towards the deployment of 5G technology, Visit Malaysia 2020 and the changes in policy for foreign buyers looking for property in the country. Overall, Budget 2020 seems to indicate a more positive outlook for the year ahead, aiming at sustainable long-term growth by investing in social wellness and infrastructure.

In order to fully understand how we can expect to see the year progress, five leaders in the sectors of economy, finance, women development, and arts & culture reflect on what’s been set into motion and what more can be done in the coming months.

WOMEN DEVELOPMENT

Budget 2020 was deemed women-focused, introducing several initiatives to help women in the social, employment and entrepreneurial sectors. A study by the World Bank says that Malaysia’s income per capita could increase by 26.2% if all working-age women participated in the labour market. As of 2018, women participation in the workforce stands at only 55%, and initiatives introduced in the budget could increase that number. We asked Sumitra Visvanathan what these new programmes would mean and what else can be done to bring women back to work.

SUMITRA VISVANATHAN, Executive Director of Women’s Aid Organisation (WAO)