Miti Targets 100 Local Tech Companies Earning Rm1bil Revenue By 2030

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Deputy investment, trade and industry minister Liew Chin Tong said Mida is spearheading efforts in four states to develop joint clusters for the aerospace industry and global shared services. (Bernama pic)KUALA LUMPUR: The investment, trade and industry ministry (Miti) has set a target of 100 local technology companies with annual revenue of RM1 billion by 2030.
Deputy minister Liew Chin Tong told Parliament today the government will continue to support local companies in research and development (R&D), and innovation by providing assistance to small and medium-sized enterprises (SMEs) nationwide.
“This will include financing assistance, advisory services and business guidance to strengthen the SME value chain,” he said in winding up the debate on the motion of thanks for the royal address in the Dewan Rakyat today.
He was responding to Amirudin Shari’s (PH-Gombak) proposals to enhance collaborations among states and expand the market, especially for SMEs.
Liew said the Malaysian Investment Development Authority (Mida) is spearheading efforts in Selangor, Kuala Lumpur, Melaka and Negeri Sembilan by developing joint clusters for the aerospace industry and global shared services.
Meanwhile, Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) asked about Miti’s direction in increasing strategic investments.
Liew responded that the government would ensure investments coming into the country comply with 12 revenue-based indicators that will be used to gauge quality, according to the new industrial master plan 2030 and national investment aspirations.
These indicators include strengthening efforts in high-value-added activities, accelerating regional R&D activities, and creating high-skilled job opportunities. - FMT

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