Govt allocates additional RM50mil to Matrade to expedite exploration of new markets
KUALA LUMPUR: The government will allocate an additional RM50 million to the Malaysia External Trade Development Corporation (MATRADE) to expedite efforts to explore new markets.
Prime Minister Datuk Seri Anwar Ibrahim said this initiative is part of the MADANI government's strategy to ensure economic stability and safeguard national interests in the short to medium term following the sudden reciprocal tariffs imposed by the United States on Malaysia.
"Among the measures to be implemented is assisting small and medium enterprises (SMEs) in penetrating new markets through participation in international trade expos and exhibitions, as well as facilitating business matching with foreign buyers," he said during today's Special Parliamentary Meeting in the Dewan Rakyat on the US tariffs.
Anwar said that the government will continue encouraging efforts to attract global businesses and talent to Malaysia, especially in national priority sectors such as artificial intelligence (AI), including academics from leading universities.
"We have indeed begun to see expressions of interest from prominent figures in science and professional fields in relocating to Malaysia," he added.
The prime minister also announced the expansion of the Invest Malaysia Facilitation Centre (IMFC) to Penang and Sarawak to provide services to investors and monitor project approval processes.
"So far, the IMFC as a one-stop centre for investors has been opened in Kuala Lumpur in December 2023 and at Forest City for Johor-Singapore Special Economic Zone (JS-SEZ) in February 2025.
Meanwhile, Anwar said that as of April 2025, RM8.5 billion has been allocated under the Gear-UP programme, including venture capital investments and semiconductor projects.
"In driving the New Industrial Master Plan (NIMP) 2030, focus continues to be placed on direct investments to enhance value-added activities in key sectors such as electronics and electrical (E&E) and to strengthen the domestic value chain.
"In line with this, under the Gear-UP programme, government-linked investment companies (GLIC) have committed to making RM120 billion in domestic direct investments over five years, with RM25 billion allocated for 2025," he added. - Bernama
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