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SHAH ALAM: The Selangor government has set aside RM100 million as venture capital for potential startups operating in the state.
It is also allocating RM76 million to help residents who have lost their jobs due to movement restrictions imposed by the federal government to control the spread of Covid-19.
Menteri Besar Amirudin Shari, introducing the 2021 state budget today, said that the RM 100 million initiative under the Selangor Innovation Fund would identify startups that could generate investment through new technologies.
“This is in line with our goal of being a smart state by 2025. There is great development potential for new companies and they currently only represent 0.25% of total business in the country,” he added.
He said RM3 million would be allocated to implement a 5G pilot project through Selangor-linked company Smartsel Sdn Bhd and the information management unit of the secretary of state.
“The state government wants Selangor to have extensive 5G coverage and we look forward to starting the 5G pilot project at the Selangor state secretariat for the benefit of our officials and visitors entering the facilities,” Amirudin said.
He also said that the Selangor government would allocate RM76 million through state-linked companies to help residents in the state who have lost their jobs.
Amirudin added that programs such as “Selangor Kerjaya”, “Selangor Automotif TVET”, “Rakan Digital Selangor” and “Selangor Freelancers” were aimed at creating job opportunities for this group.
“We realize that approximately 26% of the country’s workforce is self-employed and the number keeps increasing because people are opting for jobs that are flexible.
“The self-employed initiative is to create awareness and incentives for people to use their skills and earn money,” he said, noting that the state was targeting recent graduates, the unemployed and homemakers.
Amirudin told the assembly that the response to the state’s esports competition was very encouraging during the period of the motion control order.
“We will set aside RM3 million for the esports initiative by organizing amateur tournaments and providing training for young people to join esports,” he added.
The Selangor government today presented a state budget of 2.32 billion ringgit for 2021, with a deficit of 123 million ringgit.
The state assembly will resume its sessions on November 2 when assembly members debate the budget.
