KUALA LUMPUR, Oct 18 (Bernama) -- The government is allocating RM200 million to the Strategic Collaborative Investment Fund (CoSIF) and the NIMP Industrial Development Fund (NIDF) next year.
Prime Minister Datuk Seri Anwar Ibrahim said that the allocation aims to support the growth of small and medium enterprises (SMEs) and mid-sized companies, as well as to encourage entrepreneurship.
“To facilitate strategic investors, the Malaysian Investment Development Authority (MIDA) will be the approving authority for work permits involving non-citizen graduates from local universities to meet the human capital needs in sectors under the New Industrial Master Plan (NIMP),” he said during the tabling of Budget 2025 in the Dewan Rakyat today.
Additionally, Anwar, who is also the Minister of Finance, noted that while the government is prepared to implement a global minimum tax (GMT) on multinational companies to generate additional revenue, there are still negative risks to the investment climate.
“To mitigate the effects of GMT, the government is committed to streamlining existing incentives, creating new non-tax incentives, and examining the feasibility of strategic investment tax credits,” he said.
-- BERNAMA
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