By Emellia Tamoh
KUCHING, June 26: Domestic industry players must take full advantage of government facilities and incentives to support their growth and sustainability.
Malaysian Investment Development Authority (Mida) deputy chief executive officer, Arham Abdul Rahman, said the government had put in place various initiatives for companies to move towards the Fourth Industrial Revolution (Industry 4.0).
The incentives include Pioneer Status (PS), Investment Tax Allowance (ITA) and Domestic Investment Strategic Fund (DISF). There are also tax incentives for the production of robotics, like the Automation Capital Allowance (ACA), to encourage automation in the manufacturing industry.
“The establishment Soft Loan Scheme for Automation and Modernisation (SLAM) is one of the incentives to enhance manufacturing processes, upgrade production capability and capacity, and diversify into higher value-added activities,” he said at the Sarawak Domestic Investment Seminar 2019 here today.
The one-day event, which forms part of Mida efforts to update industry players, especially those in East Malaysia, on the latest policies and facilities that are available, was organised in collaboration with the state Ministry of Industrial and Entrepreneur Development (MIED).
Arham told those present that Mida recently established the i-Incentives Portal that provides information on all available incentives offered by the federal government. There is also the i-Services Portal, meant to boost and expand business activities.
“Sarawak is certainly one of the Malaysian destinations for high value-added investments.
“With so much development happening in the state, there is certainly more rooms for expansion and diversification activities, particularly in new growth areas,” he said.
Hence, he encouraged more companies to take advantage of the established ecosystem and facilities that Sarawak has to offer.
“Together with the Ministry of International Trade and Industry (Miti), we will continue to work closely with the state government to create a more conducive business environment for businesses to grow,” he assured.
The seminar, which attracted more than 250 participants, featured panel sessions and presentations from federal and state-level agencies such as Matrade, MIDF, Exim Bank, MPC, Standards Malaysia, Sirim and Mida. — DayakDaily
