KUALA LUMPUR: The government will provide a financing plan for youths to venture into entrepreneurship.
Finance Minister Tengku Datuk Seri Zafrul Aziz said when tabling the 2022 Budget today said RM150 million would be provided for young entrepreneurs under Bank Simpanan Nasional and Agrobank for this.
Aside from this, he said the government also plans to extend the tax incentives for the Structured Industrial Training Programme until assessment year 2025.
This, he said, would also be extended to Master's Degree, Professional Certificate, and Malaysian Skills Certificate Level 1 and 2 levels students.
"The youth of this nation will determine the country's rise and fall. Exposure to the working world is very important for them to face the increasingly challenging world.
"Since 2019, the government has started paying an allowance of RM900 to students undergoing industrial training programmes.
"Therefore, I call on the private sector to also provide an allowance of at least RM900 for the services of these students."
He said the government would provide incentives to employers who hire school graduate apprentices and (university) graduates aged 18 to 30 years with RM900 per month for a period of six months, which is an increase from the previous RM800.