The government will allocate a total of RM100 million to provide digitisation grants of up to RM5,000 that will benefit more than 20,000 Small and Medium Enterprises (SMEs) and micro-entrepreneurs.
Prime Minister Datuk Seri Anwar Ibrahim during the tabling of Budget 2024 said the grant could be used to upgrade sales, inventory and digital accounting systems.
A total of RM900 million in loan funds under Bank Negara Malaysia is available to encourage SME companies to increase business productivity through automation and digitalisation, he said when presenting the Budget
Anwar said the government will also provide a total of RM40 million to implement the Shop Malaysia Online Program to encourage small traders, especially in the food sector, to do business from home.
The role of the Digital Economy Center in each State Legislative Assembly will also continue to be strengthened to support small entrepreneurs selling products online with a total allocation of RM25 million.
On framework for 5G cybersecurity testing and local expertise in 5G technology to enhance preparedness against cyber threats will be developed with an RM60mil allocation.