IMMIGRATION PROCEDURES
As one of the leading loan & finance based comparison portals
NEW GRANTS LAUNCHED!!!
Incentives and Financing Schemes for Businesses Under Malaysia’s Budget 2022
Malaysia’s government announced its largest state budget in history on October 29, 2021, totaling 333.2 billion ringgit (US$80.2 billion) as the government aimsto spur post-pandemic growth in 2022.
The budget provides several incentives, grants, and financing schemes for businesses. Several are also an extension of the benefits issued under the 2021 state budget. These include more than 19 billion ringgit (US$4.5 billion) in funding for micro, small, and medium-sized enterprises (MSMEs) and wage subsidy programs to help employers hire Malaysians. Moreover, the government has also dedicated 10 billion ringgit (US$2.4 billion) for loans dedicated to Bumiputera businesses (businesses owned by the country’s majority ethnic Malays).
New GRANTS & INCENTIVE:
1. Special Strategic Investment Fund (Grant): RM 2 Billion
A special fund for strategic investments up to RM2 billion will be prepared to attract strategic foreign investments by multinational companies, especially those that complement industry value chains and drive knowledge-based jobs creation as well as development opportunities for local SMEs.
2. Bumiputera SME Aerospace Grants: RM100 Mil
Matching grant of RM100 million will be provided to Bumiputera SMEs to explore business opportunities in the aerospace segment.
3. Green Technology Tax Incentive for Rain Harvesting
RM295 million to public universities for research and innovation as well as to encourage industry collaborations.
4. NGO’s Matching Grant
Matching grants for NGOs (RM100 m)
-
Income generation and jobs creation for vulnerable groups in rural area (RM30 m)
-
Tackle mental health issues through awareness programmes and capacity development (RM20 m)
-
After school education and online teaching (RM20 m)
-
Environmental conservation and animal welfare (RM20 m)
-
Preservation of arts and heritage (RM5 m) o Social enterprise (RM5 m)
​​Insight of Budget 2022:
Smart Automation Grant
Smart Automation matching grants to 200 companies in the manufacturing and services sector to automate their business processes
​
RM45 Mil For Industry4wrd Grants for manufacturing & service sectors
RM45 million as a technological transformation incentive for SMEs as well as mid-stage companies in the manufacturing and services sectors, in line with Industrial Revolution 4.0 or Industry4WRD.
RM423 Mil for R & D relevant Grants
RM423 million under MOSTI and KPT to intensify R&D activities in applying new innovations in line with the development of science and technology
RM295 Mil for R&D public learning institutions
RM295 million to public universities for research and innovation as well as to encourage industry collaborations.
RM20 Mil for allocated for start-up economics through the Cradle Fund.
RM20 million for Cradle Fund Sdn Bhd’s MyStartup Strategy programme will help establish important locally developed innovations.
Feel free to check on the budget full speech as attached
THE MOST FAMOUS GRANTS WHICH ARE APPLIED
BY MOST OF BUSINESSES
INTERVENTION FUND
INDUSTRY4WRD
The fund will be provided on matching basis (70:30) based on eligible expenditures, up to a maximum grant of Ringgit Malaysia Five Hundred Thousand (RM500,000.00) only. Maximum 30% of the matching amount (70% of total grant) will be provided in upfront to the companies subject to the approval by Intervention Fund Approval Committee at MITI, whereby the balance of the remaining grant will be on reimbursable basis which will be deliberated at MIDA.
TeD 1 R&D Grant
From Mosti (Minister of Science, Technology and Innovation)
Technology Readiness Level (TRL 2-3)
Technology Development Fund 1(TeD 1) Objective is open to researchers and companies interested in implementing research and development projects (R&D) to produce new processes and products in the field have been identified by the Government.