30/11/2023 01:04 PM

KUALA LUMPUR, Nov 30 (Bernama) -- The Entrepreneur Development and Cooperatives Ministry (KUSKOP) has provided funding amounting to RM5.19 billion, to 292,000 micro, small and medium enterprises (PMKS) and cooperatives this year, as of yesterday (Nov 29).

Its Minister Datuk Ewon Benedick said that in the same period, KUSKOP has produced 83,361 new PMKS entrepreneurs.

He said that the figure was in addition to the existing registered PMKS entrepreneurs as of December 2022, totalling more than 1.17 million.

“For me, more than 83,000 new entrepreneurs being produced is a great achievement,” he said, when appearing as a guest on Selamat Pagi Malaysia One Year with the MADANI Government: KUSKOP on TV1, today.

Ewon said that his ministry also implemented several new initiatives this year, including introducing the Tamu Entrepreneur Financing Scheme (SPUT) in Sabah and Sarawak, for small traders who sell at weekly tamu (farmers’ markets) and night markets.

He said that the ministry is now planning to expand the Tamu Entrepreneur Financing Scheme throughout the country, following a very encouraging response.

He added that through the framework of the MADANI Economy, Prime Minister, Datuk Seri Anwar Ibrahim, put a big vision for KUSKOP to bring the country's PMKS industry to the international market, and turn it into a regional champion.

“Based on KUSKOP data, as of December 2022, of the 1.17 million registered PMKS businesses, 78 per cent are micro-enterprises. So, the focus needs to be on building these micro and medium enterprises so that they can have a big impact to realise the Prime Minister's vision,” said Ewon.

He said that KUSKOP will focus on developing high-impact industries among PMKS, with a focus on the aerospace sector, smart agriculture, medical devices, electricity and electronics, automotive, halal industry and oil and gas.

He added that to prepare the country's PMKS for the international level, KUSKOP provides environmental, social and governance (ESG) compliance guidelines for the industry.

“This takes into consideration that big international markets such as America, Europe, Japan and Australia require ESG compliance as an important entry criterion for any product and service,” he said.

He said that the ESG guidelines for PMKS, which will be launched soon, are expected to have a big impact on the industry.


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