Focus on agritech investments in Budget 2025 to attract high-net worth individuals - Economist
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Malaysia should prioritize agritech investments in Budget 2025 to attract diverse investors, particularly family offices; Mohd Sedek Jantan, head of investment research at UOB Kay Hian Wealth Advisors, emphasizes the need for tax breaks and subsidies for agricultural R&D; Budget 2025 is set to be tabled on October 18, 2024; Malaysia has 754 ultra-high-net-worth individuals with a total net worth of US$30 million, expected to grow to 1,015 by 2028; globally, there are 426,330 ultra-high-net-worth individuals with a total wealth of US$49 trillion in 2023; agritech is crucial for sustainable agriculture amid climate change; traditional farming is insufficient to meet food demands; innovations like precision farming are vital; a stronger ringgit could enhance Malaysia's appeal as an investment destination; public-private partnerships and effective marketing are essential for attracting foreign investment.

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https://www.nst.com.my/business/economy/2024/10/1115545/focus-agritech-investments-budget-2025-attract-high-net-worth