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BUSINESS

MTIB to continue efforts to empower Bumiputera entrepreneurs in timber industry

08/01/2022 03:00 PM

KUALA LUMPUR, Jan 8  -- The Malaysian Timber Industry Board (MTIB) will continue to spearhead the development of the country’s timber industry, especially in strengthening the Bumiputera agenda.

MTIB said in the quest, the board would continue to work with stakeholders such as universities, chambers of commerce, researchers and relevant agencies to undertake studies and propose recommendations.

“MTIB has implemented various programmes and activities to empower the Bumiputera agenda, including implementing the Production Capacity Enhancement Programme at Bumiputera Small and Medium Enterprise wood-based product factories under the Malaysia Plan project with a total allocation of RM39.7 million.

“Eligible Bumiputera entrepreneurs have been provided loans for high-tech machines to increase their production capacity to enable them to become more competitive in the market.

“The programme has benefitted 121 Bumiputera entrepreneurs since its inception in 2015,” it said in a statement today.

MTIB said the board had been providing opportunities for Bumiputera entrepreneurs to increase sales in the domestic market through its Wood & Lifestyle Fair since 2016.

“From RM5.3 million spent, Bumiputera entrepreneurs have managed to generate RM45.5 million in sales. The Credible Entrepreneur, Marketing and Promotion (CEMP) programme is an initiative specially designed to enable Bumiputera entrepreneurs to produce products for the export market.

“In order to produce new Bumiputera entrepreneurs, MTIB has also implemented the VenTureS and Smart-Partnership programme which is aimed at increasing the involvement of Bumiputera youths in the timber industry, especially the furniture industry,” it said.

Besides, MTIB said the National Wood Carving Industry Development Strategic Plan (2021-2030), which was launched on Dec 18, 2021, was created to achieve the goal of elevating the country’s wood carving industry.

It is developed with the cooperation of various parties, namely government agencies, timber industry entrepreneurs, and Persatuan Penggiat Seni Ukir Kayu Malaysia.

-- BERNAMA


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