MELAKA: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has approved nearly RM100 million in financing for more than 4,300 entrepreneurs in Melaka as of May 31, further strengthening the development of micro, small and medium enterprises (MSMEs) in the state.
The ministry, in a statement, said the financing reflects its continued commitment to ensuring that more entrepreneurs have access to capital to expand their businesses and stimulate the local economy.
Its Minister, Steven Sim Chee Keong, said financing must continue to be channelled to entrepreneurs to enable more businesses to grow and create employment opportunities.
“Through financing, we are supporting Malaysian businesses. When businesses grow, the benefits are felt not only by business owners, but also by employees, suppliers and local communities.
“The funds channelled to entrepreneurs will continue to circulate within the national economy. That is why we want to see more financing reach the market and help strengthen Malaysian businesses,” he said in the same statement.
Sim is currently on a three-day working visit to Melaka, from June 19 to 21, in conjunction with the ‘Hebatkan Perniagaan Malaysia’ Carnival (KHPM), aimed at engaging with entrepreneurs and local traders as well as reviewing the implementation of various initiatives under the ministry.
Among the programmes attended was the mega meet and greet session with TEKUN entrepreneurs at Malim Food Town, which brought together about 50 local entrepreneurs.
During the event, Sim also presented nearly RM1 million in financing to 18 entrepreneurs through TEKUN Nasional and SME Corp Malaysia.
The recipients represented various sectors, including food and beverages, wholesale, professional services, construction contracting, retail, online businesses, automotive and other services.
Sim and Melaka Entrepreneur Development, Cooperatives and Consumer Affairs Committee Chairman, Seah Soo Chin, also conducted a walkabout around Malim Food Town to engage with traders and visitors and observe local business activities.
Meanwhile, the ministry said that it had approved RM5 billion in financing nationwide in the first five months of this year, benefiting nearly 180,000 entrepreneurs across the country.
Through its PowerUp10K initiative, the ministry aims to channel RM15 billion in financing to MSMEs nationwide this year.
Sim also said Malaysia’s diversity in race, language and culture is a key advantage in terms of talent and the economy, making the country more attractive to investors while enabling local businesses to expand into wider markets.
“This is what makes Malaysia an attractive destination for foreign investors and enables local businesses to grow into broader markets,” he said. – BERNAMA
