KUALA LUMPUR, Oct 16 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) places emphasis on efforts to strengthen industrial competitiveness and improve the capabilities of local companies through initiatives under the MADANI Budget 2027.
Deputy Minister Sim Tze Tzin said the empowerment of micro, small and medium enterprises (MSMEs) remained the ministry's strategic thrust to ensure the sustainability of the domestic supply chain and enhance the competitiveness of local companies.
“Through the Halal Certification Assistance Grant, assistance of up to RM5,000 for first-time applicants and RM25,000 for high-value sectors is provided to help companies meet halal certification requirements and expand market access.
“This initiative targets 4,000 companies, with a projected increase in sales of between 20 and 30 per cent and the creation of up to 8,000 job opportunities,” he said in a statement.
He said this effort was also strengthened through financing guarantee facilities and corporate tax deduction incentives to help MSMEs expand their businesses and penetrate global markets.
To drive the industrial modernisation agenda, Sim said MITI would strengthen the implementation of the New Industrial Master Plan 2030 (NIMP 2030) through the NIMP Industrial Development Fund (NIDF) and the Strategic Co-Investment Fund (CoSIF).
He said that the funds were allocated RM200 million each, with a total allocation of RM400 million.
“The fund aims to accelerate the adoption of automation, decarbonisation technology and advanced engineering among local manufacturers.
“At the same time, CoSIF plays a role in promoting joint investment by the public and private sectors in high-impact industries such as electric vehicles, renewable energy and advanced materials innovation, thus increasing the competitiveness of the industry and strengthening Malaysia’s position in the global value chain,” he added.
-- BERNAMA