The Budget continues to empower our SMEs and for the first time ever, they receive a big boost of RM23.7 billion in terms of government allocation, grants, soft loans and guarantees. These initiatives are vital in building the capabilities of our SMEs to ensure they remain competitive in meeting the economic challenges of today and tomorrow, said Minister of International Trade and Industry Datuk Seri Mustapa Mohamed.
“In addition to these said allocations, the RM1 billion provided by major institutional investors and the tax incentive for investment in venture capital will stimulate entrepreneurship and promote the growth of start-ups and innovation in our economy.”
The Malaysian Institute of Accountants (MIA) welcomes the numerous programmes and incentives focused on the development of micro entrepreneurs, at the recent announcement of the Budget 2018.
The programmes include an allocation of RM500 million to Tabung Ekonomi Kumpulan Usahawan Niaga (TEKUN) and RM80 million to the Skim Pembiayaan Ekonomi Desa (SPED).
Lazada Malaysia applauds the government’s continuous efforts in improving Malaysia’s eCommerce industry, especially with the allocation of RM 83.5 million ringgit for the first phase of the Digital Free Trade Zone (DFTZ) at KLIA. This is expected to further spur the growth of local Small and Medium Enterprises (SMEs) and attract investments worth up to RM 700 million.