KUALA LUMPUR: The Malaysian Employers' Federation said the 2010 Budget provides the foundation to support the implementation of a high-income economy.
MEF president Datuk Azman Shah Harun said overall it was a tight budget and the government was prudent and realistic in distributing the allocations.
"The allocation of RM1.3 billion for the polytechnics and community colleges was significant as this indicated that the government is recognising the importance of skills and vocational training.
"These initiatives will enhance public perception about the value of skills and vocational training and further promote skills and vocational training as part of mainstream education," Azman said.
He also commended the government's move to accept level 4 skills development graduates for admission into the public sector and mainstream academic education.
This, he said, was a big boost for skills training and part of initiatives to improve the skills of Malaysians to be more productive and in the long run, enable them to earn higher income.
On the 1Malaysia Retirement Scheme, Azman said this would encourage people to provide for their old age.
"The five per cent government contribution for every RM100 contributed by the contributor, subject to a maximum of RM60 per annum, will encourage people in the informal sector to contribute to the EPF."
Azman also commended the government's decision to allocate RM100 million to assist government-linked companies to finance community activities.
"From the perspective of the private sector, this is a good move. We hope the government would also consider providing double tax relief for companies that embark on corporate social responsibility initiatives."
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