Mida urges manufacturers to utilise capital allowance


  • Corporate News
  • Friday, 02 Aug 2019

Manufacturing

KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) is urging manufacturing companies to utilise the automation capital allowance (CA) incentive that aims to enhance the efficiency and productivity of local industries.

Its senior executive director for strategic planning and development Ahmad Khairuddin Abdul Rahim said the incentive, introduced in the Budget 2015, not only pushes manufacturing companies to engage in innovative and productive activities but also spearheads the quick adoption of automation. “We want more companies, particularly manufacturers in the labour-intensive industries, to come forward to discuss their automation undertakings with Mida.

“We want to help our domestic players in particular, to develop a sustainable competitive advantage that differentiates them from their competitors, ” he told a media briefing here yesterday. To date, he said Mida had approved 187 applications for the CA incentive from manufacturers in various industries. — Bernama


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