The most notable initiative aimed at encouraging local entrepreneurship is the funds of up to MYR500 million (US$153 million) earmarked by governmental agency TEKUN for entrepreneurship, of which MYR350 million (US$107 million) will go to the local Bumiputera – those of the Malay race – entrepreneurs. The rest will be split evenly among other entrepreneurship programs and schemes.
Attracting foreign talent seems to be another key area of focus, with a series of policies aiming at that. Eligible expatriate entrepreneurs will be given a year-long work pass, and the paid-up capital for startups has been set at MYR75,000 (US$23,000) to encourage foreign entrepreneurs to set up shop locally.
There are other perks for entrepreneurs in Malaysia, and thanks to iMoney, you can now peruse them in the infographic below: