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Budget 2020: Govt to allocate RM1bil on incentives to draw Fortune 500 companies

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KUALA LUMPUR: The government will allocate up to RM1bil for customised packaged investment incentives annually over five years to draw international companies to the country, says Finance Minister Lim Guan Eng.

He said this was to attract Fortune 500 companies and global unicorns in high technology, manufacturing, creative and new economic sectors.

He also said that the government would allocate RM1bil in customised packaged investment incentives annually over 5 years to transform Malaysia’s best and most promising businesses into the most competitive enterprises in global export markets. "We expect this measure to significantly strengthen our local supply chain ecosystem and create an additional 100,000 high-quality jobs for Malaysians over the next five years," he said when tabling the 2020 budget on Friday .

 

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