Miti’s VDP benefits 122 companies

KUALA LUMPUR: The Mal ay s i a n I ndu s t r i a l Development Finance Bhd ( MIDF) has distributed funds amounted to RM523.6 million to 122 companies under the Vendor Development Programme ( VDP) from 2014 until June 30 this year.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the funds had benefited the companies and helped them explore more business opportunities.

Initiated under the Ministry of International Trade and Industry ( MITI), the VDP aims to develop small and medium enterprise entrepreneurs to become competitive suppliers a nd ma nu f ac tu r e r s of components and services for the domestic and global markets.

Mustapa was speaking to reporters after launching the GLC ExplorAce 2017 Conference yesteroday.

Themed “Excelling in the Digital World”, the conference was jointly organised by MITI, UEM Group, Sime Darby Bhd and MIDF.

Mustapa said some 450 companies took par t in t he bus i ne s s - m at ch i ng session during the one- day conference.

“The session also involves 12 anchor companies who would help promote smaller companies to the global market,” he said.

The GLC ExplorAce 2017 is an annual event that congregates local entrepreneurs and vendors and is expected to generate about RM9 billion in revenue under the VDP. — Bernama