TLDR:
Malaysia has introduced new incentive packages to attract top startups and venture capital firms to the country, aiming to create a strong startup ecosystem for growth. The “Unicorn Golden Pass” initiative seeks to bring global unicorns to Malaysia and create high-skilled jobs.
Malaysian Economy Minister Rafizi Ramli announced the initiative during the KL20 Summit startup event in Kuala Lumpur.
Article Summary:
Malaysia has launched a new set of incentives to entice leading startups and venture capital firms to establish a presence in the country. The goal is to cultivate a thriving startup ecosystem that will drive economic growth. The initiative, known as the Unicorn Golden Pass, aims to position Malaysia as the Southeast Asian hub for global technology companies.
Economy Minister Rafizi Ramli unveiled the program during the KL20 Summit startup event in Kuala Lumpur. The minister emphasized the importance of attracting global unicorns to Malaysia to create high-value jobs and foster the development of future tech entrepreneurs and leaders.
Under the new initiative, eligible companies will benefit from exemptions in work visa fees, tax incentives, and other perks designed to make Malaysia an attractive destination for startups and venture capital firms. The government hopes that by attracting top-tier talent and investors, Malaysia can establish itself as a key player in the global tech industry.
The move comes as Malaysia seeks to position itself as a competitive player in the tech startup space and boost its innovation and entrepreneurship ecosystem. By offering attractive incentives to top startups and venture capital firms, the country aims to drive economic growth, create high-quality jobs, and cultivate a dynamic and vibrant tech industry.
