The 2018 Budget which focused on four key areas, namely automation and Industry 4.0, high value-added products on Market Development Grant, incentives for rubber industry smallholders and special economic zones, augurs well for the continued growth of the glove industry.
Supermax Corporation Bhd Executive Chairman and Group Managing Director, Datuk Seri Stanley Thai said the budget unveiled by Prime Minister Datuk Seri Najib Tun Razak in Parliament, will maintain global competitiveness for gloves made in Malaysia.
“The government’s continuing support through incentive programmes will help spur the growth automation and Industry 4.0,” he said.
Thai said the development of high value-added products for the export market would certainly help the contact lens business that Supermax Group is embarking on and developing for the global market.
“Incentives and grants to support the rubber industry smallholders would help increase the local supply of natural rubber latex concentrate material for the glove Industry,” he said.
Currently, more than 90 % of the natural rubber latex material supply is from south Thailand.