KUSKOP LAUNCHES NEW INITIATIVES FOR INDIAN ENTREPRENEURS

KUALA LUMPUR, 12 Nov (Bernama) -- The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has launched new initiatives for Indian entrepreneurs, involving additional financing funds totalling RM136 million.

Deputy Minister Datuk Seri R. Ramanan said these initiatives include the PENN Programme (Prosperity, Empowerment, and A New Normal for Indian Women) under Amanah Ikhtiar Malaysia, with an allocation of RM50 million.

“KUSKOP has also introduced the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) Programme, with a fund of RM50 million, as well as the Business Accelerator Programme for small-sized Indian-owned companies (I-BAP) amounting to RM6 million.

“Additionally, the Indian Entrepreneur Development Scheme (SPUMI) Goes Big Programme with an allocation of RM30 million has also been launched,” he said during the Minister's Question Time session in the Dewan Rakyat today.

He was responding to a question from Datuk Muslimin Yahya (PN-Sungai Besar) regarding KUSKOP’s comprehensive reform initiatives, particularly in driving the growth of the micro, small, and medium enterprise (MSME) sector.

Meanwhile, Ramanan said KUSKOP will continue to encourage MSMEs’ involvement in High Growth High Value (HGHV) activities, which are expected to contribute more significantly to the country's gross domestic product .

“This is to support the implementation of the New Industrial Master Plan 2030 (NIMP 2030) in enhancing MSMEs' competitiveness and participation in high-growth manufacturing value chains at both domestic and international levels,” he said.

He added that MSMEs’ contributions increased to RM613.1 billion in 2023 compared to RM584.1 billion in 2022.

-- BERNAMA