PUTRAJAYA (Aug 18): Budget 2027 will focus on strengthening Malaysia’s economic competitiveness and improving the quality of public services, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

The government will continue to encourage investments, increase productivity and accelerate development of strategic sectors generating added value, high-income employment and sustainable economic growth, he said in a keynote speech at the Budget 2027 engagement session on Tuesday. 

“Focus will continue to be given to sectors such as semiconductors, energy transition, the digital economy, artificial intelligence and Islamic finance,” Amir Hamzah said.

Nearly 400 people, representing the public sector, industry, chambers of commerce, technocrats, economists, academics, non-governmental and international organisations, participated in the engagement session to share their proposals and views.

Budget 2027 is slated to be tabled on Oct 9.

Amir Hamzah also said the government will empower small-to-medium businesses and start-ups with increased access to financing, digitalisation, innovation and market expansion to allow more local products and services to penetrate global markets as 'Made by Malaysia'.

Malaysia will also continue to strengthen the business ecosystem by improving regulations, facilitating investments, digitising service delivery and reducing bureaucratic red tape in order to further enhance the country's competitiveness, he noted.

The government also remains focused on improving the quality of government services, especially in the areas of education and healthcare, while boosting human capital development as the foundation for inclusive economic growth, he noted.

Efforts to raise the people's incomes, expand employment opportunities and address cost-of-living challenges are also part of the priorities, Amir Hamzah said. “The main objective is to ensure that the benefits of economic growth are felt more comprehensively by all segments of society.”