Mida approved DISF grants worth RM1.3b till July this year
SUNGAI PETANI: The Malaysian Investment Development Authority (Mida) has approved grants totalling RM1.3 billion under the Domestic Investment Strategic Fund (DISF) since the fund was established in July 2012 until July this year.
Mida executive director of Strategic Planning (Manufacturing) Zabidi Mahbar said the allocation involved 264 projects with investment value of RM12.8 billion.
“Of the figure, 76 projects in Penang, 13 in Kedah, 10 in Perak and one in Perlis received DISF grants with an investment value of RM5.2 billion,” he said at the Northern Region Domestic Investment Seminar 2017 here, yesterday.
He also urged all players to take advantage of the facilities provided by the government to enable them to shift to a higher value chain.
“Besides the DISF grant, industry players can also capitalise on the automation capital allowance (ACA) introduced under 2015 Budget to encourage the use of automation in manufacturing.
“The scheme provides an ACA of 200 per cent for labour-intensive industries such as rubber, plastic, wood, furniture and textiles to assist these firms undertake technology transformations,” he said.
Up to June, only 41 applications were approved by Mida for this scheme and applications were expected to increase following the outreach programme carried out by the agency, he added. Bernama