PIKOM welcomes incentives under Budget 2018

PIKOM welcomes incentives under Budget 2018
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KUALA LUMPUR (Oct 30): The National ICT Association of Malaysia (PIKOM) has welcomed the list of incentives under Budget 2018, which is aimed at spurring the economy and benefitting the rakyat.

In a statement today, PIKOM said the focus on Transformasi Nasional 2050 (TN50) will have a positive impact on the ICT industry with a slew of measures aimed at empowering Malaysians for the future.

Prime Minister Datuk Seri Najib Razak had also announced that Malaysia would host the World Congress on IT (WCIT) in 2020, which has also been declared as Visit Malaysia Year.

"PIKOM is delighted to have received the rights to host WCIT2020 from the World IT and Services Alliance (WITSA) and we look forward to welcoming our international visitors to this event dubbed as the Olympics of the ICT industry," it said.

PIKOM said with a strong economy expected to grow by 5.2% in 2017, some of the perks that businesses can look forward to included RM200 million allocation to Malaysian Investment Development Authority for high impact projects; RM2 billion fund for Industrial Revolution 4.0 with 70% government guarantee; RM200 million for training for SME Corp; RM150 million for export including the Market Development Grant; and startup funds for venture capitals including RM1 billion fund.

The association also noted that the government has placed more emphasis on human capital development in 2018, especially on coding in schools; STEM education, with RM250 million for teachers' training; and RM190 million to upgrade 2,000 classes into a 21st century smart classrooms in order to enhance creative-based learning and innovative thinking.

"We also welcome Capital Allowances for ICT equipment, which will include spending on software development, claimable for a period of four years as this will boost the companies' productivity and reduce the cost of operation," it said.