Assistance for entrepreneurs with good track record
KOTA KINABALU: Entrepreneurs, especially rural youths, with good track record in running their businesses will soon be able to benefit from financial assistance offered by the State Finance Ministry.
Chief Minister Datuk Seri Panglima Shafie Apdal said he had instructed the Finance Ministry to look into providing financing for entrepreneurs who had established (themselves) for at least three years to increase their revenue.
He said there would be criteria for the application to ensure the assistance went to entrepreneurs who were truly committed to their business.
“This is an initial step to encourage entrepreneurship, particularly among rural youths.”
Shafie, who is also the State Finance Minister, said this when launching the Sabah Local Products Sales and Exhibition 2018 organized by the Ministry of Trade and Industries at Karamunsing Complex here yesterday.
He said the event was a platform to enable products manufactured by small and medium industries (SMIs), including those produced at village level, reached the market in Kota Kinabalu.
He said there was a need to grow SMIs, which in turn could create more job opportunities and create positive spillover effects to other sectors as well.
He said both the federal and state governments provided various platforms to assist the development of SMIs.
“Bank Negara Malaysia provides billions of ringgit to assist SMIs, while we in Sabah also set aside a part of the state budget to encourage entrepreneurship.”
Shafie added that hypermarkets such as Tesco should also carry local products not only in their local branches, but also international outlets, to ensure a win-win situation.
Additionally, he said selected local products that were in high demand, attractively packaged and priced affordably should be marketed beyond Sabah.
He also urged the big taukehs (bosses) in Sabah to invest in the state to drive economic growth and provide more job opportunities.
Meanwhile, Deputy Chief Minister cum Minister of Trade and Industries Datuk Seri Panglima Wilfred Madius Tangau said the event aimed to create awareness and encourage Sabahans to support and purchase local products.
He said the quality of locallymade products were on par with that of imported goods.
Madius added that his ministry had introduced a label for Sabahmade products that achieved certain standards to show that the items were locally produced and of high quality.
He said the 3.6 million tourists arrivals in Sabah annually augured well for local products such as Tenom coffee, kuih cincin, handmade chocolates, frozen seafood, Sabah Tea, bird’s nests and handicraft that were popular especially among Chinese tourists.
Madius’ speech was read by his assistant minister, Ben Chong.
Furthermore, Madius said his ministry was working with the Malaysia Digital Economy Corporation Sdn Bhd (MDEC) to market Sabah products online.
“There will be more programmes on digital development implemented by my ministry and MDEC next year.
“I hope entrepreneurs in Sabah will seize the opportunity to sell their products online.”
Also present were Minister of Agriculture and Food Industry Datuk Junz Wong, State Secretary Datuk Seri Panglima Hashim Paijan and Mayor Datuk Yeo Boon Hai.