SEBERANG JAYA, Aug 15 (Bernama) -- The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has channelled nearly RM9 billion under the ‘Power Up 10K’ initiative, supporting 250,000 Micro, Small and Medium Enterprises (MSMEs) across the country as of July.
Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong said the figure formed part of the ministry’s target to channel at least RM15 billion into the MSME sector this year.
“Funds disbursed not only directly benefited recipients, but also had the potential to flow through wider supply chains and markets,” he said at the Muslim Economic Development Agenda (APEM) 3.0 Convention here today.
Sim also said that under the Indian Entrepreneur Capital and Economic Stimulus Package (MUDRA) initiative launched by KUSKOP this year, 5,000 Indian entrepreneurs had received RM100 million in financing.
Elaborating, he said KUSKOP was also working to make it easier for entrepreneurs, especially small businesses, to access information on government financing schemes and assistance.
“The ‘Hebatkan Perniagaan Malaysia’ portal provided by the ministry lists various financing programmes offered by KUSKOP and other ministries, with about 140 schemes currently available,” he said.
Meanwhile, Sim said the financing allocation for the National Entrepreneurial Group Economic Fund (TEKUN Nasional) had been increased from RM300 million to RM1 billion this year, adding that the financing applications could now be submitted online without applicants having to visit its offices, marking the first such change in the agency’s 30-year history.
Sim also called on APEM organiser, Penang Muslim League to build strong strategic partnerships with the ministry, government agencies, financial institutions, cooperatives and industry players to turn the convention’s resolutions into high-impact programmes and business opportunities.
He said the APEM 3.0 platform could be strengthened through five strategic collaboration initiatives aimed at supporting Muslim entrepreneurs, including a Financing and Market Access Clinic; Development Programme; Digital Transformation and Artificial Intelligence; APEM Business Matching Platform; and Business Scaling.
“Funds disbursed not only directly benefited recipients, but also had the potential to flow through wider supply chains and markets,” he said at the Muslim Economic Development Agenda (APEM) 3.0 Convention here today.
Sim also said that under the Indian Entrepreneur Capital and Economic Stimulus Package (MUDRA) initiative launched by KUSKOP this year, 5,000 Indian entrepreneurs had received RM100 million in financing.
Elaborating, he said KUSKOP was also working to make it easier for entrepreneurs, especially small businesses, to access information on government financing schemes and assistance.
“The ‘Hebatkan Perniagaan Malaysia’ portal provided by the ministry lists various financing programmes offered by KUSKOP and other ministries, with about 140 schemes currently available,” he said.
Meanwhile, Sim said the financing allocation for the National Entrepreneurial Group Economic Fund (TEKUN Nasional) had been increased from RM300 million to RM1 billion this year, adding that the financing applications could now be submitted online without applicants having to visit its offices, marking the first such change in the agency’s 30-year history.
Sim also called on APEM organiser, Penang Muslim League to build strong strategic partnerships with the ministry, government agencies, financial institutions, cooperatives and industry players to turn the convention’s resolutions into high-impact programmes and business opportunities.
He said the APEM 3.0 platform could be strengthened through five strategic collaboration initiatives aimed at supporting Muslim entrepreneurs, including a Financing and Market Access Clinic; Development Programme; Digital Transformation and Artificial Intelligence; APEM Business Matching Platform; and Business Scaling.