KUALA LUMPUR: The National ICT Association of Malaysia (Pikom) has praised the Government’s direct and indirect incentives for the information and communications technology (ICT) industry as outlined in the 2020 Budget today.
The move, it said, stands to put various short-term, medium-term and long-term goals in more realistic perspectives, leading up to the Shared Prosperity Vision 2030.
Pikom chairman Ganesh Kumar Bangah said the association was pleased to see that there will be special incentives for start-ups to penetrate the world market.
At the same time, special investment packages to attract global unicorn for investment will greatly help the local players to become unicorns themselves someday.
“As the world moves to a more digital application environment, particularly so with 5G applications across all aspects of life, a dedicated Tech Ministry to oversee the incentive policy, growth of small and medium enterprises (SME) and provide the necessary platforms for upscaling, is called for.”
Ganesh also said that the focus on human capital development in the 4th Industrial Revolution (4IR) was well received.
Funding for upskilling via HRDF and encouraging STEM education was most welcomed, he said.
Ganesh said Pikom also applauds the various entrepreneurship programmes including for micro digital enterprises as well as "coach & grow" programmes that will be a catalyst for further growth in the start-up scene.
“The proposal for e-wallet incentive is a boon and will have a transformative effect in creating a cashless society."