Accra:The Ministry of Investment, Trade and Industry (MITI) is focusing on strengthening industrial competitiveness and boosting the capabilities of local companies through initiatives under the MADANI Budget 2027. Deputy Minister Sim Tze Tzin highlighted the importance of empowering micro, small, and medium enterprises (MSMEs) to ensure the sustainability of the domestic supply chain and improve the competitiveness of local firms.

According to BERNAMA News Agency, MITI is introducing the Halal Certification Assistance Grant to aid companies in meeting halal certification requirements and expanding their market access. The grant provides up to RM5,000 for first-time applicants and RM25,000 for high-value sectors, targeting 4,000 companies. This initiative is expected to increase sales by 20 to 30 percent and create up to 8,000 job opportunities.

Additional support for MSMEs includes financing guarantee facilities and corporate tax deduction incentives to help businesses expand and enter global markets. In line with the industrial modernization agenda, MITI plans to enhance the implementation of the New Industrial Master Plan 2030 (NIMP 2030) through the NIMP Industrial Development Fund (NIDF) and the Strategic Co-Investment Fund (CoSIF).

Both funds, allocated RM200 million each, aim to accelerate the adoption of automation, decarbonization technology, and advanced engineering among local manufacturers. CoSIF also promotes joint public and private sector investment in high-impact industries such as electric vehicles, renewable energy, and advanced materials innovation. These efforts are designed to enhance industry competitiveness and strengthen Malaysia's position in the global value chain.