Budget 2024: Communications Ministry receives over RM2.84b to boost digital economy, creative industry
Malay Mail

PUTRAJAYA, Oct 14 — The Communications and Digital Ministry (KKD) received an allocation of over RM2.84 billion under Budget 2024 to enhance digital connectivity initiatives, digital economy, cyber security, national information marketing as well as to support the development of local talent and creative projects.

KKD, in a statement which welcomed Budget 2024 today, said the government’s concern in appreciating the local creative talents was realised with an allocation of RM160 million to encourage the production of more works of art in Malaysia.


A total of RM60 million will be channelled to the Digital Content Fund to promote local works and support content based on national values.

Another RM90 million is allocated under the Film in Malaysia Incentive (FIMI) to encourage the production of films of international standard and RM10 million for MyCreative Matching Fund Scheme to support the production of creative projects.

The government has agreed to give full exemption from entertainment tax for stage performances by local artists as well as a reduction from 25 per cent to 10 per cent of entertainment tax for stage performances by international artists and other entertainment events such as film screenings.

"KKD appreciates the government’s support in encouraging the entry of foreign film productions into Malaysia through the proposal to set a special income tax rate of between 0 and 10 per cent for film production companies, actors and foreign film crews who shoot films in Malaysia.

Also announced is RM100 million allocation for the digitalisation grants of up to RM5,000, which will benefit over 20,000 small and medium enterprise (SME) entrepreneurs and micro-entrepreneurs to upgrade sales, inventory and digital accounting systems.

According to KKD, RM40 million has been provided for the implementation of the Shop Malaysia Online programme to encourage Digital Economy Centres (PEDi) in each state constituency to support small entrepreneurs in marketing and selling products online.

To increase the level of preparedness against the threat of cyber attacks, a total of RM60 million has been allocated to CyberSecurity Malaysia to develop a 5G Cyber Security Testing Framework as well as local expertise in 5G technology.

"KKD also welcomes the government’s efforts in maintaining the telecommunications service tax at six per cent to encourage international video game companies or studios to invest in Malaysia,” it said.

Meanwhile, Malaysian Communication and Multimedia Commission (MCMC) chairman Tan Sri Mohamad Salim Fatteh Din in a separate statement said the RM25 million allocation to PEDi is believed would increase income generation and create more job opportunities.

Currently, there are 911 PEDi facilities that operate as one-stop platforms to serve the community.

He said MCMC also supports the government’s efforts in strengthening the function of the National Scam Response Centre (NSRC) with an additional allocation of RM20 million to combat online fraud.

"MCMC is always intensifying efforts to raise awareness regarding crimes involving scams. Accordingly, MCMC’s involvement in the NSRC is important to develop a knowledgeable society in the cyber world,” he added.

Prime Minister Datuk Seri Anwar Ibrahim, who is also the finance minister, when tabling the Budget 2024 in the Dewan Rakyat yesterday, said the second Malaysia Madani budget involved allocations amounting to RM393.8 billion, which is the highest budget ever tabled. — Bernama

Malay Mail

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