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Miti targets to have 100 local tech companies with RM1 bil revenue by 2030 | Scoop
Investment, Trade and Industry Deputy Minister Liew Chin Tong said the government will continue to support local companies in research and development and innovation. – Information Dept pic, March 12, 2024
News

Miti targets to have 100 local tech companies with RM1 bil revenue by 2030

Effort aimed at developing joint industrial clusters, including for aerospace industry, global services hub

Bernama
Updated
8:50 PM MYT

 

KUALA LUMPUR – The Ministry of Investment, Trade and Industry (Miti) is aiming for Malaysia to have 100 local technology companies with annual revenue of RM1 billion by 2030, according to Deputy Minister Liew Chin Tong.

He said the government will continue to support local companies in research and development (R&D) and innovation by providing assistance to small and medium enterprises (SMEs) nationwide.

“Various types of assistance are being provided by Miti and its agencies including financing assistance, advisory services and business guidance to strengthen the SME value chain,” he said in winding up the debate on the royal address in the Dewan Rakyat today.

He was responding to Datuk Seri Amirudin Shari’s (Gombak-PH) proposals to enhance collaboration among states and expand the market especially for SMEs by building a national innovation system.

Liew said that Miti, through the Malaysian Investment Development Authority (Mida), is spearheading efforts to boost collaborations among Selangor, Kuala Lumpur, Melaka and Negri Sembilan. 

The effort is aimed at developing joint industrial clusters, including for the aerospace industry and global services hub.

Meanwhile, answering a query from Wan Ahmad Fayhsal Wan Ahmad Kamal (Machang-PN) who asked about Miti’s direction in increasing strategic investments, Liew said the government will ensure that investments coming into the country comply with 12 revenue-based indicators that will be used to gauge investment quality under the New Industrial Master Plan 2030 and National Investment Aspirations.

Among the 12 indicators are strengthening efforts in high value-added activities, accelerating regional R&D activities, and creating high-skilled job opportunities. – March 12, 2024

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