National Budget 2025: Allocations for women lauded
23 October 2024
As the President of the Rural Women Entrepreneurs Development Association of Sabah (USHWANE), I would like to express my strong support for the National Budget’s allocation for women, tabled by Prime Minister Datuk Anwar Ibrahim, recently. The allocation thoughtfully addresses the diverse needs of women in society, particularly those of women entrepreneurs and the workforce.
The allocation of RM470 million for female entrepreneurs by SME Bank, BSN, Bank Rakyat, and MARA is a testament to the government’s commitment to empowering women in the economic sector. This funding is crucial as it provides essential financial access for female-owned micro, small, and medium enterprises (MSMEs), enabling them to scale their businesses effectively.
This initiative is particularly significant in bridging the gender gap in entrepreneurship, allowing women to make more substantial contributions to national economic growth. By ensuring targeted financial support for women-led businesses, we are not only promoting gender parity but also enhancing the sustainability of the nation’s MSMEs sector.
I am also encouraged by the government’s recognition of the importance of women’s representation as Board Members in leading companies. The initiative to increase female participation in top corporate leadership positions is a vital step toward achieving gender equality at the highest levels. Research has consistently shown that companies with diverse boards tend to perform better, as varied perspectives foster innovative solutions and more effective decision-making. This initiative aligns with global trends that increasingly recognise gender diversity in leadership as a key driver of corporate success. The government’s focus on enhancing female representation in these roles underscores its commitment to fostering inclusive growth within the private sector.
The government’s measures encouraging women to return to the workforce, such as flexible work arrangements and re-skilling programmes, are commendable and essential for addressing the workforce participation gap. Many women encounter challenges, including childcare responsibilities and outdated skills following career breaks. Initiatives like tax incentives for employers who support flexible work schedules and investments in childcare facilities can significantly lower the barriers to women re-entering the workforce. Additionally, re-skilling programs that focus on digital and entrepreneurial skills will equip women to remain competitive in today’s rapidly evolving job market. These measures are crucial for harnessing the full potential of the female labor force, which can significantly bolster national productivity.
Beyond these specific initiatives, it is imperative for future budgets to continue prioritising policies that support women’s well-being in a broader context, including access to healthcare, mental health support, and measures to combat gender-based violence. Comprehensive support systems for women not only enhance economic participation but also contribute to the creation of a more equitable society. Long-term, sustained investment in these areas will be essential for achieving gender parity across all sectors.
In conclusion, these strategies represent a positive shift toward inclusivity and recognition of the critical role women play in Malaysia's economic and social fabric. I look forward to seeing continued progress in these areas as we work together to build a more equitable future for all.
Rowindy Lawrence,
President of the Rural Women Entrepreneurs Development Association of Sabah (USHWANE),
Member of the National TEKUN Trust Board.
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