MDEC: Tax reliefs in Budget 2021 to attract new digital investments

The diverse scope of tax reliefs provided by Budget 2021 will help maintain existing investments and also attract new digital investments which will benefit the people, the Malaysia Digital Economy Corporation (MDEC) said on November 7.

Chief executive officer Surina Shukri said this would further boost MDEC-focused areas such as catalysing Industrial Revolution 4.0 (IR 4.0), digital creative content (DCC) and drone technology as well as instilling confidence to attract continued investments in its bid to strengthen Malaysia’s position as the Digital Pulse of ASEAN.

“MDEC will support business digitalisation efforts including supporting automation and modernisation activities under Budget 2021 such as Small and Medium Enterprise (SME) Digitalisation Grant Scheme and Automation Grants, SME digitisation initiatives, Shop Malaysia Online and agricultural sector empowerment such as the e-Satellite Farm programme,” she said.

She said the provision for the transition of existing workforce talent would enable MDEC to continue its initiative to provide digitally skilled talent for employee marketability and job matching.

Surina said MDEC would continue to work closely with ministries and strategic partners to support computer and digital technology graduate programmes at Premier Digital Tech Institutions (PDTIs) and other skills institutes.

“This year, MDEC has also organised the #MyDigitalworkforce Week which saw more than 10,000 applications submitted and they are ready to fill job opportunities that require digital technology skills,” she said.

Meanwhile, MDEC chairman Datuk Wira Rais Hussin Mohamed Ariff said MDEC welcomed the RM100 million allocation to facilitate the transition of existing workforce talent to meet the needs in the expanding information and communications technology industry.

“Currently, digital economy-related companies need to take the opportunity to grow their business more innovatively and offer solutions based on the new norms needed by the people and business amid a highly uncertain environment.

“MDEC is confident that the strong foundation that has been built, including the digital economic framework, will provide the resiliency that the country needs at this time in driving economic growth as well as caring for the people,” he added.

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