KOTA KINABALU: The 2025 Budget will help to drive socioeconomic development and provide robust solutions to bolster the growth of entrepreneurs and cooperatives, according to Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.
The RM421 billion budget that was tabled by Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim yesterday, he said, will promote Malaysia's future growth by prioritising the people and uplifting the nation.
"The ministry is committed to implementing the initiatives outlined in the 2025 Budget and ensuring that services reach the target groups, benefiting the people," Ewon said in a statement.
The budget allocates RM3.2 billion for micro-loans, nearly RM600 million for halal SMEs, RM470 million for women-led businesses, RM50 million in digitalisation grants, and RM20 million to promote youth entrepreneurship.
Additionally, RM100 million has been earmarked for market infrastructure upgrades, RM700 million for cost-of-living initiatives, and RM200 million for affordable housing.
Provisions are also included for supporting veterans and implementing e-Invoicing incentives by 2025.
Moreover, the budget includes a full stamp duty exemption on loan agreements made by SMEs with investors through the Initial Exchange Offering (IEO) platform from Jan 1, 2025, to Dec 31, 2026 as well as RM800 million in financing under Majlis Amanah Rakyat and Perbadanan Usahawan Nasional Bhd to support more Bumiputera entrepreneurs, including local artisans.