Under the sixth thrust, Budget 2018 also introduced various allocations and digital initiatives to fortify IR 4.0 and the digital economy in Malaysia.
KPMG Tax Services Sdn Bhd executive director Regina Lau opined that the matching grant of RM245 million under the Domestic Strategy Fund aimed at helping business to upgrade smart manufacturing facilities is a good start to push businesses towards innovation although the allocation is rather small for this purpose.
“In addition, it remains to be seen how businesses can avail themselves of the grant. SMEs would be in greater need of such grants and hence, should be given priority in the disbursement thereof. It may also be more equitable if each state were to be given an allocation of the grant so that all states have an equal chance of moving their SMEs towards the digital era,” Lau said.
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