KUALA LUMPUR – Of the federal government’s recently announced RM393.8 billion national budget for 2024, RM2.85 billion has been allocated for the Communications and Digital Ministry to promote digital connectivity, digital economy, cybersecurity, national data, as well as supporting local talent development and creative projects.
The ministry also lauded the government’s efforts to maintain the sales and services tax (SST) rate for telecommunications services at 6%, as part of its efforts to attract international game developers and studios to invest in Malaysia.
In a statement, the ministry said RM100 million has been allocated for Digitalisation Grants, up to RM5,000, which will help 20,000 small and medium enterprises (SMEs) to upgrade sales systems, inventory, and digital accounting.
RM40 million has been allocated for the Shop Malaysia Online programme to promote small businesses, especially home-based ones.
RM25 million will be to empower Digital Economy Centres (PEDis) at every state legislative assembly (DUN) to support small online businesses.
RM60 million is allocated to strengthen Malaysia’s cybersecurity protection by way of CyberSecurity Malaysia’s 5G Cyber Security Testing Framework development and local expertise on 5G technology.
RM160 million has been allocated for more productive creative talents in Malaysia, and RM60 million is set aside for the Digital Content Fund aimed at encouraging local artwork and content based on national values.
The government also encourages local film production by allocating RM90 million under the Film in Malaysia Incentive (Fimi).
Meanwhile, RM10 million is for the MyCreative Matching Fund Scheme to support young artists in their project development.
The ministry also lauded the full exemption of entertainment duty for local performers and a reduction from 25% to 10% for international artists who perform in Malaysia.
There will also be a reduction of the entertainment duty, from 25% to 5%, for theme parks, family recreational centres, indoor playgrounds, and simulators.
Yesterday, Prime Minister Datuk Seri Anwar Ibrahim tabled the Budget 2024, with 42.3% of the allocation going to three ministries – finance, education and health. – October 14, 2023