Government Allocates RM100 Mln To MyCIF To Support Collaborations Related To Food Security, Environment And Community

KUALA LUMPUR, Oct 13 (Bernama) -- The government will allocate RM100 million to the Malaysia Co-Investment Fund (MyCIF) over a three-year period to support collaborations with initiatives related to food security, environment and community.

Prime Minister Datuk Seri Anwar Ibrahim said this collaboration would also involve state Islamic religious councils to create opportunities for the development of waqf assets for health, education and agricultural purposes.

“Tax deduction incentives for individual investors investing in startup companies through the equity crowdfunding (ECF) platform will also be extended to investors through limited liability partnership nominee companies and this will be extended until Dec 31, 2026.

“Tax incentives for venture capital investors will be extended until Dec 31, 2026 to encourage capital funding in technology startup companies,” he said at the tabling of Budget 2024 in Dewan Rakyat today.