KUALA LUMPUR, April 14 (Bernama) — The Malaysian Industrial Development Finance Berhad (MIDF) has inked a Memorandum of Understanding (MOU) with the Malaysian Investment Development Authority (MIDA) to offer small and medium enterprises (SMEs) and Mid-Tier Companies (MTCs) the opportunity to benefit from MIDA’s Smart Automation Grant (SAG).
The SAG initiative, introduced in the National Economic Recovery Plan or PENJANA with an initial allocation of RM100 million, was launched by the Senior Minister and Minister of International Trade and Industry (MITI) on 2 December 2020. This grant is awarded to eligible SMEs and MTCs on a matching basis or 50 per cent of total eligible expenditures, up to a maximum grant cap of RM1 million per company. Based on the encouraging response for SAG, the Government announced an additional RM50 million fund under the Strategic Programme to Empower the People and Economy or PEMERKASA to drive more SMEs and MTCs to improve their operation and production through automation and digitalisation.
