Food industry to grow with 10-year tax exemption

Agricultural support: A total of RM2.62bil has been allocated for padi farming subsidies under Budget 2026.

GEORGE TOWN: The 100% income tax exemption for companies undertaking new food production projects is expected to boost reinvestment in areas such as automation, food innovation and sustainability.

Managing director Dominic Tan, whose company produces plant-based ready-to-eat meals and packaged sauces for export to Singapore and Japan, said the initiative would encourage more businesses to explore new opportunities, thus benefitting local communities.