KUALA LUMPUR, Nov 5 (Bernama) – The 2019 Budget demonstrates government's concerted
effort to advance the small and medium enterprises (SMEs)
sector, said Malaysia Petroleum Resources Corporation (MPRC).
In a
statement, MPRC Deputy Chief Executive Officer Mohd Yazid
Ja’afar said the move to transform and modernise the SME sector, set up a
special task force to improve the ease of doing business here and improve
competitiveness in the global arena signalled that Malaysia was open
for business.
He said
the budget announcement for SMEs also came at a time when global oil and
gas industry was stepping up development activities.
“We
therefore urge oil and gas services and equipment (OGSE) SMEs to leverage
on these incentives to tap into the upsurge in oil and gas activities and
realise their internationalisation aspirations,” he added.
MPRC, which
was formed in 2011 as an OGSE industry development agency, said the
emphasis on enabling SMEs in the digital economy, encouraging industry-university
research collaborations and accelerating their adoption of technology
would go a long way to future-proof the backbone of the Malaysian economy.
“In
delivering our mandate to make Malaysia as the top OGSE hub in the Asia-Pacific
region, MPRC will continue to work closely with the relevant Government
agencies, our stakeholders and other industry players to ensure effective
implementation of the measures,” he added.
Among
SME-friendly measures in the 2019 Budget are RM2 billion allocation for
the Business Financing Guaranteed Scheme to enable SMEs to invest in
automation and modernisation and the allocation of RM210 million to
encourage the move to Industry 4.0 from 2019 to 2021.
Furthermore,
the government also announced that the Malaysia Productivity Corporation
would undertake the Readiness Assessment programme to assist 500
SMEs to switch to Industry 4.0 technology.
-- BERNAMA
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