Budget 2019 expected to continue incentives for food truck industry

KUALA LUMPUR: The Entrepreneur Development Ministry expects incentives for the food truck industry to be continued and included in the Budget 2019 to be announced on Nov 2.

Deputy Minister Datuk Dr Mohd Hatta Md Ramli said the government had identified huge opportunities in the food truck industry, which is most popular at the moment among others, and could positively contribute towards the growth of the economy in the future.

“This industry has started to get the attention of the community. Areas with foods trucks have also received good response. But what we hear are murmurings about the lack of space from the traders to undertake their business.

“This requires cooperation between the traders and local authorities. They can trade anywhere, but let the locations also be points of attraction for them, and easily accessible, while not inconveniencing others doing business there,” he told Bernama after the Best MSA Foodtruck awards ceremony here yesterday.

In the Budget 2018, a sum of RM120 million was allocated to provide easy loans to 1,000 1Malaysia Food Truck ( FT1M) and 1Malaysia Mobile Food Kiosk entrepreneurs through Bank Rakyat and Bank Simpanan Nasional.

Of this sum, the government would provide a subsidy of 4.0 per cent on interest rates.

Despite allocations from the government through loans and grants, Mohd Hatta said there are still other agencies capable of providing support to the industry.

This, he added, was in terms of giving out loans with lower interest for the entrepreneurs to kick- off their food truck business.

Mohd Hatta also urged large companies, which had suitable and sufficient space near their buildings or businesses to allow and invite food truck operators to set their business there periodically or on a weekly basis.

“This can be considered as part of their corporate social responsibility,” he said. — Bernama