IPOH: The Science, Technology and Innovation Ministry will work with the Perak Chinese Chamber of Commerce and Industry (PCCCI) to help SMEs upgrade their technology and enhance their competitiveness.
Its minister, Datuk Chang Lih Kang, said the government launched the RM100mil Strategic Technology Driver Fund (Pemacu 2.0) on Feb 11 to assist companies with research and development, increase production, improve efficiency and translate efforts into tangible commercial results.
“We recognise that the cost of technological upgrades is high,” he said, adding that the ministry would provide funding through agencies such as Cradle Fund Sdn Bhd and Bioeconomy Corp.
“Whether you are in traditional manufacturing or service, using new technology to transform traditional industries is essential,” he said in his speech during Chinese New Year celebrations held by PCCCI yesterday.
Chang explained that the government would bear most of the costs while companies are required to contribute at least 15% in funds.
This is significant for SMEs that wish to upgrade their technology but are worried about finances, he said.
“We have also introduced a RM20mil commercialisation fund to assist companies in bringing their R&D results to the market.”
He also said the government’s aim was to “create the most fertile commercial soil so that you, the steeds of the business world, can accelerate and drive the Malaysian economy to new heights”.
PCCCI president Datuk Liew Chee Ming said the past year had been challenging for businesses amid global economic turbulence, inflationary pressures, geopolitical tensions and market uncertainties affecting micro, small and medium enterprises (MSMEs).
Despite this, he said, the business community is encouraged by the government’s efforts, which have led to more structured and inclusive policies introduced to support business development.
He cited the RM100mil micro-financing fund, launched by the Entrepreneur and Cooperatives Development Ministry in January, dedicated to Chinese entrepreneurs and jointly funded by Bank Rakyat and SME Bank.
