‘RM2.9bil for bumiputra SMEs’

Najib promises entrepreneurs a boost to spur competitive spirit

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has announced RM2.9bil worth of incentives for bumiputra small and medium enterprises (SMEs) to make them more competitive.

The incentives would be distributed through various agencies, programmes and funds.

“I understand that entrepreneurs need the Government’s assistance. So I would like to announce 11 new initiatives worth RM2.9bil,” he said in a speech at the Bumiputera Entrepreneurs Gathering that was attended by about 10,000 people.

The incentives include RM2bil for the continuation of the Bumiputera Facilitation Fund, from this year, and another RM500mil to intensify bumiputra involvement in retail and distribution industries.

The Prime Minister said that RM50mil would be set aside for companies that are listed on the Leading Entrepreneur Accelerator Platform (Leap) while another RM40mil would be set aside for the Local to Global Corporation Ascend 800 programme.

Besides that, RM60mil has been allocated for the Tunas Usahawan Belia Bumiputera (TUBE) programme while allowances to encourage the rise in SME exports will be extended for another two years until 2020.

Additionally, RM50mil each will also be allocated for the following – the SpeedMeUp programme, Skim Pembiayaan Mudah Jaya (SPiM), WIRA eDagang Digital Free Trade Zone initiative for the next three years and for an investment incentive fund.

Najib also said the Government’s Bumiputera Agenda Steering Unit (Teraju) would be empowered to be the sole coordinator for all policies and programmes in regards to bumiputras at every level including ministries, agencies and governmentlinked companies.

Najib added that he wanted to continue the legacy of his father Tun Abdul Razak, the country’s second Prime Minister who introduced the New Economic Policy (NEP).

“I will continue supporting the bumiputra agenda as a national agenda. This is my promise,” said Najib.

The event was organised by the International Trade and Industry Ministry (Miti) and SME Corp.

Also present were Minister of International Trade and Industry Datuk Seri Mustapa Mohamed and his deputy Datuk Ahmad Maslan.

Good job everybody: Najib posing with Bumiputera Entrepreneur awards recipients and SME Corp Chairman Tan Sri Mohd Al-Amin Abdul Majid (third left), Mustapa (fourth left) and Ahmad Maslan (right) during the Himpunan Usahawan Bumiputra (HUB) 2018 and...