Wednesday, October 2, 2013

Proposing RM50,000 Innovation Voucher For Malaysia SMEs

The Federation of Malaysian Manufacturers (FMM) has proposed to the government to come up with an innovation voucher of RM50,000 for small and medium enterprises (SMEs) to start their projects. This is one of the various incentives proposed to the Treasury to help local companies to innovate their businesses.

FMM president Tan Sri Yong Poh Kon mentioned during FMM Innovation Conference 2013 that the proposal suggested voucher to be given to SMEs to start their projects from blocking the production processes. However, those companies have to pay half of the amount.

"The only way you can do it is to innovate by using the latest technology, devicing ways and means to reduce your costs and come up with new products which are more engaging and attractive to your customers," Tan Sri Yong added.

Earlier, Science, Technology and Innovation Minister Datuk Dr. Ewon Ebin, who opened the conference, said: "We are always looking at giving an extra grant for SMEs, but as for now I think the fund that we have is sufficient, which is half-a-billion-ringgit."

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