The 2013 Budget incentives will support Malaysia's aspiration to become a high-income and developed nation by 2020, said DRB-HICOM Bhd's top executive.
Group managing director Datuk Seri Mohd Khamil Jamil said the budget reflects the government's focus on the wellbeing of the rakyat.
"Every level of society stands to benefit directly or indirectly from the initiatives under this budget, which seeks to improve the livelihood of all Malaysians," Mohd Khamil said in a statement.
The proposed increase in real property gains tax will help curb property speculation, he noted.
He also lauded other incentives to enable the middle income group to own homes in Kuala Lumpur, Shah Alam and other major cities.
The budget's focus on education and various incentives to support human capital development is in line with DRB-HICOM's focus on producing highly-skilled workforce, he added.
Mohd Khamil said for the automotive industry particularly, the group's initiatives, such as its International College of Automotive (ICAM) in Pekan, will help develop students from the lower- and middle-income groups.
"ICAM, being the only automotive college established 'by the industry, for the industry' in the region, will help elevate the entire automotive value chain," he added.
The college supports Malaysia's move to play a more significant role as an automotive hub in the region.
"Furthermore, as a diversified conglomerate with more than 52,000 employees, our growth and sustainability are underpinned by our emphasis on human capital development," he said.
Mohd Khamil also welcomed the incentives for R&D and green technology.
"DRB-HICOM's global partners have contributed to the inflow of investments, and with the conducive economic environment and automotive industry landscape, their contributions to FDI (foreign direct investment) are expected to continue," he said.