SUBSTANTIAL SUPPORT FOR DIGITALISATION IN BUDGET 2024 SET TO IMPROVE LOGISTIC INDUSTRY'S PRODUCTIVITY

The Budget 2024's focus on the logistics industry is the substantial support for digitalisation to improve productivity, the Malaysia Productivity Corporation (MPC) said.

In a statement on 18th October, it said the Logistics Productivity Nexus (LPN), a public-private partnership under the guidance of the MPC, saw this budget as a remarkable opportunity to propel Malaysia's logistics industry into a new era.

It said the government's digitalisation efforts is set to significantly benefit the logistics industry.

“A matching grant of RM50 million with the Port of Klang Authority will maintain the Port of Klang Road and enforce the overload limit on heavy vehicles.

“An additional RM20 million matching grant with the Port Authority will upgrade the Malaysia Maritime Single Window (MMSW) system, unifying the trading community at the port through an integrated digital portal,” it said.

MPC director general Zahid Ismail said the establishment of a unified platform for the port community through the MMSW is a pivotal step towards seamless connectivity among federal ports, facilitating transparent, efficient and responsive maritime regulatory and port services.

“This transformation will not only result in a more transparent, efficient and responsive maritime regulatory and port services environment but also lead to a substantial boost in productivity within the maritime sector,” he added.

Meanwhile, LPN champion Datuk Seri Michael Tio said there is a need for improvements within the logistics industry not only in Malaysia but across the ASEAN region.

“Furthermore, the proposed development of the Port on Carey Island, set to be realised through a Request for Proposal (RFP), promises to further strengthen the pivotal role of Port Klang,” he added.