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BUSINESS

Youths involved in agriculture sector inclined towards entrepreneurship

13/05/2020 09:17 PM

PUTRAJAYA, May 13 -- A study found that Malaysian youths involved in the agriculture sector are more inclined towards entrepreneurship, Agriculture and Food Industry Minister Datuk Seri Dr Ronald Kiandee said.

Citing a study conducted by the Khazanah Research Institute (KRI) published on April 27, he said the youths were not only farmers, breeders and fishermen, but were also marketers and sellers of their own agricultural products.

The study was published in a KRI Discussion Paper on April 27, 2020.

Realising this, Kiandee said the ministry through the Young Agropreneur Programme (PAM) provided grants in the form of in-kind contribution worth up to RM20,000 and a Special Young Agropreneur Financing of up to RM200,000 through Agrobank and TEKUN Nasional at an interest rate of only two per cent.

"This initiative is aimed at helping young people start new agricultural projects or develop existing agricultural projects," he told reporters after the presentation of the first phase of the 2020 Young Agropreneur Grants (GAM) under PAM, here today.

According to the KRI study, only 15 per cent of the National Farmers Organisation (NAFAS) members were under 40, while 45 per cent were 60 years and above.

On the first phase of GAM this year, Kiandee said 238 applicants were involved in the value chain comprising agriculture, livestock, fisheries and food industry, with grants value at RM4.01 million approved.

He said the ministry allocated RM20 million this year to assist 1,200 young agropreneurs.

"This year's GAM will be carried out in three phases, of which the second phase is open for applications from May 1 to 31, while that of the third phase from Sept 1 to 30," he said.

Kiandee said 5,767 people received GAM grants worth RM100.3 million from 2016 to 2019.

-- BERNAMA


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