In recent years, the Government of Malaysia has been taking proactive steps to build a strong infrastructure for the Malaysian entrepreneurship scene.
The development of a strong and sustainable startup ecosystem is considered to be a key economic driver for the nation to remain competitive in the global landscape.
MaGIC (Malaysian Global Innovation and Creativity Centre) was launched on the 27th of April 2014 by President Barack Obama and Prime Minister YAB Dato’ Sri Mohd Najib Tun Abdul Razak.
Since the birth of MaGIC, there has been a significant number of entrepreneurs benefiting from the programs and initiatives offered by the Centre.
Startup Commons was invited to host a workshop at MaGIC on building digitally connected and data-driven startup ecosystem.
The workshop supported the mission to catalyze the entrepreneurial ecosystem in Malaysia by introducing key stakeholders of ecosystem development to the framework targeting various activities and measuring the impact of these activities, and also providing better understanding of the relations between different areas.
Incentives and Financing Schemes for Businesses Under Malaysia’s Budget 2022
The government guarantee scheme to help SMEs under the Syarikat Jaminan Pembiayaan Perniagaan Berhad (SJPP) has been given an additional 10 billion ringgit (US$2.4 billion) in funding. This includes 2 billion ringgit (US$480 million) for businesses owned by ‘Bumiputera’s’ (ethnic Malays).
Malaysia’s government announced its largest state budget in history on October 29, 2021, totaling 333.2 billion ringgit (US$80.2 billion) as the government aims to spur post-pandemic growth in 2022.(more…)
Malaysia, Thailand banks to join the ASEAN Banking Integration Framework
Banking institutions from Thailand and Malaysia are invited to join the ASEAN Banking Integration Framework and indicate their interest to become a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.
Pursuant to the bilateral arrangement under the ASEAN Banking Integration Framework (ABIF) between Bank Negara Malaysia (BNM) and the Bank of Thailand (BOT) which was concluded in April 2019, banking institutions from Thailand and Malaysia are invited to indicate their interest to be a Qualified ASEAN Bank (QAB) in Malaysia and Thailand.(more…)
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