{"id":16462,"date":"2024-10-18T13:21:59","date_gmt":"2024-10-18T05:21:59","guid":{"rendered":"https:\/\/exim.com.my\/development\/?post_type=press-release&p=16462"},"modified":"2024-10-25T13:52:25","modified_gmt":"2024-10-25T05:52:25","slug":"exim-bank-malaysia-lauds-the-governments-budget-2025-theme-revitalising-the-economy-generating-change-prospering-the-rakyat","status":"publish","type":"press-release","link":"https:\/\/exim.com.my\/development\/press_release\/exim-bank-malaysia-lauds-the-governments-budget-2025-theme-revitalising-the-economy-generating-change-prospering-the-rakyat\/","title":{"rendered":"EXIM Bank Malaysia Lauds The Government\u2019s Budget 2025 Theme: Revitalising The Economy, Generating Change, Prospering The Rakyat"},"content":{"rendered":"\t\t
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Kuala Lumpur, 18 October 2024<\/strong> \u2013 Export-Import Bank of Malaysia Berhad (EXIM Bank) proudly lauds and supports the Malaysian Government\u2019s Budget 2025, announced under the third Belanjawan MADANI, with the theme \u201cRevitalising The Economy, Generating Change, Prospering The Rakyat.\u201d<\/strong><\/p>

This comprehensive budget, with a total allocation of RM421 billion, is designed to ensure social justice, accelerate economic growth, and reinforce the resilience of Malaysia\u2019s economy. Budget 2025 places significant emphasis on economic recovery, innovation, and achieving a more equitable distribution of wealth.<\/p>

Despite ongoing global geopolitical uncertainties, Malaysia\u2019s economy remains robust and is expected to grow by 4.5% to 5.5% in 2025, driven by the strategic initiatives outlined in the MADANI Budget 2025. Of the RM421 billion allocated, RM335 billion is for operating expenditure, while RM86 billion is earmarked for development expenditure, reflecting the government\u2019s commitment to drive both immediate and long-term economic progress.<\/p>

A key highlight of Budget 2025 for EXIM Bank is the additional allocation of RM750 million<\/strong> under the Exporter Sustainability Incentive Scheme <\/strong>or \u201cSkim Insentif Pemampanan Pengeksport\u201d (SIP2). This scheme aims to support local exporters in expanding their operations into international markets, particularly in non-traditional sectors and regions.<\/p>

EXIM Bank Malaysia\u2019s Acting President and Chief Executive Officer, Nurbayu Kasim Chang, said: \u201cEXIM Bank is ready to reinforce its role through the New Industrial Master Plan (NIMP 2030) ecosystem by providing financing to deserving Malaysian companies, including MSMEs. We are committed to empowering MSMEs by intensifying support for them to penetrate global markets.\u201d<\/p>

She added: \u201cWe appreciate the MADANI Government\u2019s ongoing commitment to aid exporters and will continue our dedicated efforts in supporting the SIP2 initiative. Under the RM750 million SIP2 scheme, EXIM Bank will offer financing up to RM20 million per exporter, with an incentivised financing rate of up to 1%, for a tenure of up to 7 years. This represents a significant effort to ease the financial burden on local exporters while enhancing their global competitiveness.\u201d<\/p>

To date, EXIM Bank has successfully offered RM290 million under SIP2 to support over 37 Malaysian companies, enabling them to strengthen their export capabilities. The Bank remains committed to driving the sustainable, long-term growth of Malaysian enterprises through tailored financial solutions and advisory services, ensuring that local businesses have the tools they need to thrive in international markets.<\/p>

In line with the National Investment Aspirations (NIA) and NIMP 2030, EXIM Bank\u2019s focus will remain on supporting Malaysia\u2019s export growth, especially within the ASEAN region and non-traditional markets. As Malaysia takes the helm as ASEAN Chairman in 2025, EXIM Bank aims to further align its strategies with national goals to enhance trade and investment in these key markets.<\/p>

Additionally, EXIM Bank\u2019s collaboration with the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) will provide extended credit Takaful coverage, giving Malaysian exporters further protection and coverage, particularly in OIC (Organisation of Islamic Cooperation) countries. This partnership underscores the Bank\u2019s efforts to broaden the support network for exporters by providing comprehensive risk mitigation tools for businesses operating in high-growth regions.<\/p>

EXIM Bank is committed to contributing to the Belanjawan MADANI 2025 agenda and will continue to support Malaysia\u2019s global trade ambitions by facilitating growth for MSMEs and large enterprises alike, ensuring that the nation\u2019s export-driven industries remain competitive on the world stage.<\/p>

– End –<\/p>

About EXIM Bank of Malaysia Berhad<\/strong><\/p>

The Export-Import Bank of Malaysia Berhad (EXIM Bank) was incorporated on 29 August 1995 and is wholly-owned by the Government of Malaysia. The Bank has assisted a diverse range of Malaysian business in various sectors in their global ventures.\u00a0 EXIM Bank takes pride in meeting its mandated role of stimulating and enhancing the competitiveness of Malaysian industries for exports and investments globally via the provisioning of internationally and domestically competitive banking and insurance products and advisory services. The Bank also offers Shariah-compliant financing and Takaful instruments. For more information, visit www.EXIM.com.my<\/a>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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MEDIA CONTACT FOR EXIM BANK<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Azmin Hamzah<\/strong><\/p>

Head, Corporate Communication\u00a0
Export-Import Bank of Malaysia Berhad
T : +603 2601 2371
F : +603 2601 2469
E : azmin@exim.com.my<\/a>
W : www.exim.com.my<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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Vino Nair<\/strong><\/p>

Assistant VP II, Corporate Communication
Export-Import Bank of Malaysia Berhad
T : +603 2601 2383
F : +603 2601 2469
E : vinodhaninair@exim.com.my<\/a>
W : www.exim.com.my<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"featured_media":0,"parent":0,"template":"","categories":[44],"tags":[651],"class_list":["post-16462","press-release","type-press-release","status-publish","hentry","category-press_release","tag-651"],"acf":[],"_links":{"self":[{"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/press-release\/16462","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/press-release"}],"about":[{"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/types\/press-release"}],"version-history":[{"count":11,"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/press-release\/16462\/revisions"}],"predecessor-version":[{"id":16490,"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/press-release\/16462\/revisions\/16490"}],"wp:attachment":[{"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/media?parent=16462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/categories?post=16462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exim.com.my\/development\/wp-json\/wp\/v2\/tags?post=16462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}