KUALA LUMPUR, Oct 11 — The government will allocate RM550 million for the smart automation matching grants to 1,000 manufacturing and 1,000 services companies to automate their business processes.
Minister of Finance Lim Guan Eng said the grant will be given on a matching basis of up to RM2 million per company.
“The government plans to build up to 14 one-stop digital enhancement centres in all states to facilitate access to financing and capacity building of our businesses, especially small and medium enterprises (SMEs) in line with the fourth industrial revolution.
“A budget of RM70 million will be allocated to the Malaysian Digital Economy Corporation (MDEC) to set up these centres as an extension of the ‘100 Go Digital’ programme,” he said, when tabling the 2020 Budget at Parliament today.
To also promote knowledge sharing and education through digital enabled content, Lim said the government proposes to establish three new digital libraries in Kedah, Perak and Johor.
As part of the government’s continued commitment to promote early stage innovations, he said the government would provide RM20 million to Cradle Fund for the provision of training and grants to seed companies.
“Progammes such as the Coach and Grow Programme by Cradle Fund for high impact technology entrepreneurs involving 469 companies to date has generated RM2.3 billion in revenue, including RM300 million in exports,” he added.