The Ministry of Finance (MOF) is inviting all parties to provide feedback to the Budget 2023 Public Consultation Paper (PCP) titled “Goods, Services and Technology Utilisation Policy from Local Research and Development (R&D) Outcome in Government Procurement”.

The MOF said in a statement on Thursday (Sept 1) that the issued PCP aims to protect and develop local industries, reduce dependency on imported goods and create business opportunities.

Besides that, it is also aimed at increasing competitiveness and resilience, as well as developing capabilities of local technology companies and supporting the technology transfer, commercialisation and marketing ecosystem from the local R&D outcome, the ministry said.

Hence, all parties are invited to give their feedback on the PCP through the link https://budget.mof.gov.my/bajet2023/kertaskonsultasi/ before or on Sept 15, 2022.

“The publication of the PCP is part of the ministry’s overall effort to make the annual budget preparation process more transparent and with the involvement of all parties,” it said.

The MOF also said the government is confident that the publication of the PCP will provide more opportunities for stakeholders to provide their respective feedback to enable the government to formulate an annual budget that fulfils the needs of the people, in line with the country’s socio-economic development policy.

• The Edge Markets