KUALA LUMPUR – The government, through Bank Pembangunan Malaysia Berhad (BPMB), will implement an Industrial Digitization Transformation Scheme worth some RM1 billion.
Finance Minister Tengku Zafrul Tengku Abdul Aziz said the focus of the plan is to boost digitization activities with additional funds until December 31, 2023.
"An additional fund worth RM150 million will be allocated under the SME digitization grant and automation grant schemes.
"The eligibility requirements have been loosened to include micro SMEs and startups that have been operating for 6 months," he said during the tabling of Budget 2021 today.
He added that micro credit financing worth RM1.2 billion is also available through Tekun, Perbadanan Usahawan Nasional Berhad (PUNB), Agrobank, Bank Simpanan Nasional (BSN) and other financial institutions.
"This includes an additional RM110 million for Bank Negara Malaysia’s (BNM) Micro Enterprises Facility to encourage entrepreneurship activities among gig economy workers who are self-employed and support towards the iTekad programme," he said.
He also said through PUNB, RM230 million is allocated as financing for SMEs as working capital expenditure, the upgrading of automation systems and tools as well as expenditure related to the implementation of standard operating procedure compliance. – The Vibes, November 6, 2020
