MyCIF Launches Incentives to Boost MSMEs and Food Security
The Malaysia Co-Investment Fund (MyCIF) introduced two new incentives to support micro, small, and medium enterprises (MSMEs) in the upstream agriculture and bioeconomy sectors, aiming to enhance national food security.
These incentives include 0% financing rates for eligible peer-to-peer financing campaigns and the option to waive dividend income from equity crowdfunding investments. MyCIF, administered by the Securities Commission Malaysia, has significantly contributed to MSME growth since its inception in 2018, funding over 15,000 businesses.
Food Security
The fund plans to expand support to various sectors and collaborate on Waqf asset development with State Islamic Religious Councils. Finance Minister II reaffirmed the government’s commitment to nurturing strategic sectors.
SC chairman Datuk Seri Dr Awang Adek Hussin highlighted Malaysia’s pioneering role in adopting a co-investment model for alternative finance platforms.
Read More Business News
He noted that since MyCIF’s inception in 2018, the agency has significantly contributed to the growth of the ECF and P2P segment, funding over 15,000 MSMEs.
“It supported business growth and enabled digitalisation by implementing a temporary relief co-investment ratio of 1:2 during the pandemic, resulting in its investment share of the total funds raised rising to 23% in 2020,” he adds.
Table of Contents
Random Images
