MITI launches smart automation grant for local players - MIDA | Malaysian Investment Development Authority
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MITI launches smart automation grant for local players

MITI launches smart automation grant for local players

03 Dec 2020

The Ministry of International Trade and Industry (Miti) has launched the Smart Automation Grant (SAG), aimed at encouraging the adoption of automation for industry players, particularly local manufacturers and service providers.

Senior Minister and Miti Minister Datuk Seri Mohamed Azmin Ali said the government, through the Malaysian Investment Development Authority (Mida), is committed to driving Malaysia’s industry and businesses towards automation and digitalisation.

“It goes beyond having the right solution providers and talents in place; it is also about ensuring that the need for accessible financial aid is met.

“The Smart Automation Grant is timely to boost strategic domestic investments that will assist and incentivise the small and medium enterprises (SMES) and mid-tier companies to future-proof their operations, production and trade channels,” he said in a statement. The SAG initiative is part of the Rm100mil allocation within the National Economic Recovery Plan or Penjana, which was announced in June 2020.

This grant will be awarded on a matching basis or 50% of total eligible expenditures, up to a maximum grant cap of Rm1mil per company. SMES and MTCS that have been undertaking manufacturing or services activities in the past 12 months are eligible to be considered for SAG.

Source: The Star