MIDA i-incentives Portal Features 126 Federal Government Incentives
Accessibility of information at fingertips is vital to assist investors in making well-informed investment decisions. As the Malaysian Investment Development Authority (MIDA) pushes for transparency enhancement and awareness drive on federal government incentives, a single portal to simplify the interactions among the relevant incentives provider towards better management of information was launched last year and is ever ready to benefit more firms
Kuala Lumpur, 2 October 2019 – Accessibility of information at fingertips is vital to assist investors in making well-informed investment decisions. As the Malaysian Investment Development Authority (MIDA) pushes for transparency enhancement and awareness drive on federal government incentives, a single portal to simplify the interactions among the relevant incentives provider towards better management of information was launched last year and is ever ready to benefit more firms.
Namely, i-incentives Portal, the interactive site currently features 126 incentives that are managed by 13 ministries and 29 agencies. These incentives include tax exemptions, grants, soft loans and equity financing.
“We now have over 2,000 registered users of this Portal, and we definitely want to increase the number. We are intensifying our promotional efforts and reaching out to more businesses out there,” said Mr Ahmad Khairuddin Abdul Rahim, Senior Executive Director of MIDA at the i-incentives Seminar on Technology titled Search. Submit. Succeed, held at MIDA headquarters today.
“The i-Incentive portal, developed by the Incentives Coordination and Collaboration Office (ICCO) of MIDA, certainly underscores our unwavering commitment to enhancing the ease of doing business in Malaysia. ICCO seeks to improve the central coordination of all incentive offerings by the federal government and strengthen the effectiveness of the government’s incentives mechanism by increasing transparency, eliminating duplication and linking to performance,” said Mr Ahmad Khairuddin.
The i-incentive Seminar takes on Technology as its theme to encourage participants to embark on technology adoption by familiarising themselves with technology-related incentives that are available in the portal.
The Seminar featured a demo briefing on i-incentives portal, presentations on technology-related incentives by MIDA and participating ministries and agencies from Ministry of Energy, Science, Technology, Environment and Climate Change (MESTECC), Malaysian Green Technology Corporation (MGTC), Agensi Inovasi Malaysia (AIM) and Bank Pembangunan Malaysia Berhad (BPMB), followed by a business clinic session.
Moving forward, the i-incentives Seminar is expected to be conducted in a series tackling different scope and theme. Government agencies offering incentives are encouraged to take full advantage of ICCO’s platform and start making their incentives available for access under a single portal at http://incentives.mida.gov.my
MIDA is the government’s principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Starting operations in 1967 with a relatively small set up of 37 staff, MIDA has grown to become a strong and dynamic organisation of over 700 employees. Headquartered in Kuala Lumpur Sentral, MIDA today has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram and Facebook, @OfficialMIDA.
For more information, please contact:
Ms Azrina Hashim
Senior Deputy Director
Incentive Coordination and Collaboration Office, MIDA
Tel.: 03-2267 3454
Email: [email protected]