SMEs, mid-tier firms urged to leverage on export perks in Budget 2020

Chief executive officer Datuk Wan Latiff Wan Musa said the move is a strong indication of the government’s aspiration to develop more global champions among Malaysian exporters.“Matrade is optimistic that the allocation will be a catalyst to facilitate the access of local companies to not only markets such as ASEAN, China and US but also to emerging markets too such as Central and South Asia, West Asia, Africa and Latin America."

KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) has urged Malaysian small and medium enterprises (SMEs) as well as mid-tier companies to fully leverage on the perks announced in Budget 2020 by incorporating an export plan in their business strategy or enhancing their existing export plan for 2020 and beyond.

In a statement yesterday, the national trade promotion agency highlighted incentives such the Market Development Grant with a higher claim ceiling per company of RM300,000, reimbursable grant for participation in trade fairs overseas with a higher claim ceiling of RM25,000 and an allocation of RM50mil to encourage SMEs to engage in more export promotion activities.