KUALA LUMPUR, Jan. 28 (Xinhua) -- The Services Export Fund (SEF), a fund established to assist Malaysian service providers in venturing globally, has recently been expanded to include a wider range of programs and activities, local media reported on Wednesday.
The scope of the SEF was expanded in response to the global economic crisis and to assist Malaysian service providers to further expand overseas.
The SEF is managed by the Malaysian External Trade Development Corporation (Matrade), an agency under the Ministry of International Trade and Industry (MITI).
The expanded scope covers the organization of specialized marketing and follow-up missions, and hosting of project owners and key decision makers to Malaysia by Matrade.
The fund is available to a wide range of sectors, including the information and communication technology (ICT), healthcare, education, oil and gas, and construction sectors, the New Straits Times reported.
To date, the SEF has attracted a total of 603 applications from312 companies, from a wide range of service sectors. Grants approved under the SEF are valued at 31.1 million ringgit (8.61 million U.S. dollars).
Three types of reimbursable grants are available, comprising a 50 percent reimbursable grant for costs incurred in preparing and submitting bids for overseas projects; a 50 percent reimbursable grant for undertaking trade promotion activities overseas and a 100 percent reimbursable grant to undertake feasibility studies.
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