Govt to offer financial aid for SMEs in Budget 2019

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PETALING JAYA (Oct 5): The Government will include financial assistance for small and medium enterprises (SME) in the upcoming Budget 2019, according to Deputy Minister of International Trade and Industry, Ong Kian Ming.

“We will wait for Prime Minister Tun Dr Mahathir Mohamad to launch the fourth industrial revolution (Industry 4.0) first at the end of this month.

“Automation is part of Industry 4.0 that must be done by SMEs to reduce dependency on foreign labour,” he told reporters on the sideline after officiating the Top Holiday Hotel and Top Happiness Grand Ballroom, here, today.

“Yes, this (financial assistance) will be part of the upcoming Budget 2019 announcement,” he added.

However, Ong declined to comment on how much the financial aid will entail, saying it is not for him to announce.

But Ong said the Ministry will hold roadshows to explain how the Government can help SMEs get involved in automation.

Finance Minister Lim Guan Eng is scheduled to present Budget 2019 in Parliament on Nov 2, the first Budget under the new Pakatan Harapan Government.