In Budget 2024, a total of RM90 million will be allocated for the Rubber Industry Smallholders Development Authority (Risda) and Felcra for smallholders to optimise their land use.
The government will provide incentives through the Palm Replanting Program with an allocation of RM100 million. These incentives will be offered in the form of grants and loans to 7,000 private small oil palm farmers.
The government will provide RM2.4 billion to FELDA, FELCRA, and RISDA to continue and enhance agro-commodity activities and improve the socio-economic status of small farmers.
RM10 million is allocated for technology-related areas, including electrical and electronic technology under MIMOS, the aerospace sector under MYSA, and drone and robotics technology under MRANTI.
A total of RM76 million is allocated to strengthen the R&D&C&I (Research and Development, Commercialisation and Innovation) ecosystem by providing support funds for the commercialisation of products created by business, non-governmental organisations as well as government departments and agencies.
A total of RM510 million will be allocated as research and development funding under the Ministry of Science, Technology & Innovation and the Ministry of Higher Education.
Of the total, RM50 million is earmarked as matching grants for public universities collaborating with the private sector to accelerate research and innovation activities.
