LANGKAWI: The SFT3 Special Tourism Fund totalling RM500 million will serve as a game changer to help boost the economic and intensifies the growth of homestay and handicraft entrepreneurs in the country’s tourism sector.
Tourism, Arts and Culture Minister Datuk Mohamaddin Ketapi said SFT3 was very significant and the government’s move to subsidise the interest rate of two per cent would help reduce the cost borne by Small and Medium Enterprises (SMEs).
“A total of 4,070 villagers and 5,572 handicraft entrepreneurs have registered with Ministry of Tourism, Arts and Culture (MoTAC) as of December last year.
“With the RM500 million, the government will give more focus and to prioritise homestay and handicraft entrepreneurs nationwide to help them expand their businesses,” he said this in his speech at the SFT3’s launch here yesterday.
Also present were SME Bank chief executive officer Aria Putera Ismail, Entrepreneur Development Ministry’s secretary-general Datuk Wan Suraya Wan Mohd Radzi and MoTAC’s deputy secretary-general (Tourism) Datuk Haslina Abdul Hamid.
Meanwhile, Aria Putera said SME Bank had channelled funds into the SFT since 2002 (SFT1 and SFT2), and disbursed about RM2 billion to 478 companies as of December, last year.
“SFT3 is a continuation of the effort and as announced during the 2019 Budget, the RM500 million is offered in the form of funding to help entrepreneurs to expand their tourism-based products or services.
“For SFT3, SME entrepreneurs are given a maximum repayment period of up to 20 years, depending on the activity or the type of financing that we will provide them,” said Aria Putera adding said the repayment record by entrepreneurs who obtained funding in SFT1 and SFT2 have been very good. – Bernama
