MITI will issue MDG grants worth RM20.85 million until October 31

KUALA LUMPUR: The Malaysia External Trade Development Corporation (MATRADE) disbursed RM 20.85 million to local businesses under the Market Development Grant (MDG) scheme during the period from January 1 to October 31, 2020.

Deputy Minister of International Trade and Industry Datuk Lim Ban Hong said MATRADE had processed 1,250 applications for the scheme during the same period, which had been expanded to cover the costs of participating companies in virtual international trade shows at home and abroad.

The grant, which is intended to encourage the country’s exports, has also been expanded to cover up to 30 percent of logistics costs, including transportation and storage for the delivery of products abroad, he said when responding to a question from Datuk Mohamad Alamin (BN-Kimanis) on the Dewan Rakyat today.

Mohamad wanted to know the strategy and direction of the Ministry of International Trade and Industry (MITI) regarding the country’s imports and exports in order to further increase the confidence of foreign investors to invest in Malaysia, especially Sabah.

Lim said MATRADE also provides market intelligence for exporters that can be accessed online through the MyExport service, as well as implementing business matching between foreign importers and Malaysian exporters through the eBizMatch program on a digital platform.

To encourage import substitution, he said that MATRADE, through its global procurement program, actively encourages local small and medium-sized enterprises to supply components to Malaysian manufacturing companies, including multinational companies that manufacture products for the international market.

“MATRADE is also helping local businesses increase access to the global market by integrating Malaysian companies into the global supply chain and by increasing the visibility of Malaysian companies abroad through strategic collaboration across different trading platforms,” he said. – Named

Source link