KUALA LUMPUR: The Malaysia Productivity Corporation (MPC) has expressed strong support for the MADANI Budget 2025's initiatives, particularly the focus on green technology, sustainability, and innovation in the chemical industry.
The budget includes tax breaks for chemical enterprises investing in green technology and promoting innovation and sustainability within the industry to boost local capacity and reduce dependence on imported chemicals.
A RM100 million investment matching fund is allocated to strengthen local suppliers in the speciality chemical sector, supporting the national supply chain ecosystem.
MPC general director Zahid Ismail said, "MPC is committed to continuing to increase the country's productivity through collaboration between the public and private sectors in the chemical industry and chemical products."
MPC has also emphasised compliance with international safety standards, such as UNECE-ADR, and aims to build capacity for local players in the chemical industry.
He added that these measures are expected to contribute to sustainable growth, encouraging increased productivity of the local chemical industry, which in turn supports the country's goal of achieving high-value economic status as targeted in the Industrial Master Plan 2030 (NIMP 2030).
Both MPC and Chemical and Chemical Productivity Nexus (CPN) have emphasised the importance of public-private cooperation to enhance the competitiveness and global standing of the Malaysian chemical industry.
CPN Chairman Datuk Dr. Mohamed Noor Sany stated, "These integrated efforts will ensure that the chemical sector in Malaysia is able to compete at the global level, further driving more inclusive and sustainable productivity growth."