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Budget 2024: Digital grants to be provided for SMEs, micro-entrepreneurs to enhance competitiveness

AHMAD AQMAL AHMAD RAHMAN
By AHMAD AQMAL AHMAD RAHMAN
13 Oct 2023 05:55pm
Finance Minister Datuk Seri Anwar Ibrahim tabling the Malaysia Madani Budget 2024 in Parliament, today. - Photo by Bernama
Finance Minister Datuk Seri Anwar Ibrahim tabling the Malaysia Madani Budget 2024 in Parliament, today. - Photo by Bernama

SHAH ALAM - A total of RM100 million in digital grants will be allocated to allow over 20,000 small and medium enterprises (SMEs) and micro-entrepreneurs to receive grants of up to RM5,000 for digital upgrades in sales, inventory and accounting systems.

In tabling the Malaysia Madani Budget 2024, Finance Minister Datuk Seri Anwar Ibrahim said this was to improve the competitiveness of SMEs in the market.

“The allocation of RM900 million in Bank Negara Malaysia (BNM) loan funds is provided to encourage SMEs to enhance their productivity through automation and digitalisation.

“An allocation of RM40 million will be provided for the Shop Malaysia Online programme to encourage small businesses, particularly in the food sector, to engage in online commerce.

“The role of Digital Economy Centres will be strengthen to support small business owners in online product sales, with an allocation of RM25 million,” he said today.

Related Articles:
Digital grants
SMEs
Competitiveness
Anwar Ibrahim
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