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KUALA LUMPUR: The government will ensure that Malaysia remains a destination of choice for foreign direct investment (FDI) and domestic direct investment (DDI).
“The investment is important to Malaysia and the government will ensure that it remains attractive to domestic and foreign investors,” said Finance Minister Tengku Datuk Seri Zafrul Tengku Aziz. (pix) on Named TV’s ‘Talk Room’.
He said the government has allocated RM1 billion to provide a special incentive package for high-value-added technology under the 2021 Budget.
“This fund aims to support investment in research and development (R&D) in the aerospace industry, as well as in electronic clusters such as the industrial parks of Batu Kawan, Penang and Kulim, Kedah.”
Tengku Zafrul also stressed the need for automation and digitization to boost the country’s economy.
The RM500 million High-Tech Fund provided by Bank Negara Malaysia (BNM) to support high-tech and innovative companies aims to do just that, he said.
The fund will enable Malaysia to remain competitive and maintain its position in the global supply chain ecosystem and protect highly skilled jobs.
Introducing the 2021 Budget, Tengku Zafrul said that the government is committed to making Malaysia a destination for high-value service activities.
Initiatives in this regard include the extension of the Principal Hub tax incentive until December 31, 2022 and the new tax incentive for the establishment of a Global Trading Center at a concession rate of 10 percent for a period of five years and renewable. for a period. for another five years.
In addition, the government allocated RM500 million for the implementation of the National Digital Network initiative, JENDELA, to provide connectivity to 430 schools throughout the country.
At the same time, the Malaysian Communications and Multimedia Commission (MCMC) will allocate 7.4 billion ringgit for the years 2021 and 2022 to build and improve broadband services. -Called
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