Budget 2022 seen as right way forward for E&E sector - MIDA | Malaysian Investment Development Authority
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Budget 2022 seen as right way forward for E&E sector

Budget 2022 seen as right way forward for E&E sector

30 Oct 2021

Budget 2022 has shown great promise for the electrical and electronics (E&E) sector in Malaysia, said the Malaysia Semiconductor Industry Association (MSIA).

Its president Datuk Seri Wong Siew Hai said among the areas of focus mentioned by Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz during the Budget 2022 announcement on Friday (Oct 29) was that the federal government will allocate RM100 million for smart automation matching grants to benefit 200 manufacturing and service companies.

He also commended the federal government’s initiative to allocate RM45 million to encourage technological transformation towards Industry4WRD among small and medium enterprises as well as mid-level companies in the manufacturing and service sectors.

“Budget 2022 has given a good direction and area of focus for the E&E sector to grow, and we look forward to more development as Malaysia pushes towards Industry 4.0,” he told Bernama.

Meanwhile, Wong hoped to have more comprehensive details in regard to the federal government’s allocation of RM423 million in grants prepared for companies embarking on research and development activities.

He questioned if applied and commercial research is also eligible for the grant. 

“Applied and commercial research is essential as it involves conducting studies and experiments that solve practical problems in our society, which potentially results in bringing more sales for the economy,” he said.

According to the Budget 2022 announcement, the grant also includes an allocation of RM295 million for public universities to play a role in the research and innovation ecosystem as well as encourage industry collaboration.

Source: Bernama