National entrepreneur development policy on the way

KUALA LUMPUR: The Ministry of Entrepreneur Development (MED), which was set up on July 2, 2018, is formulating an inclusive and competitive National Entrepreneurship Policy following the tabling of the mid-term review of the 11th Malaysia Plan by Prime Minister Tun Dr Mahathir Mohamad last Thursday.

In a statement yesterday, the ministry said this is a new agenda in the comprehensive and integrated development of entrepreneurs, with a focus on the B40 income group and social entrepreneurs and aimed at uplifting the people’s standard of living.

“More details on the policy will be announced in the middle of November 2018,” the ministry said, adding that several strategic clusters have been identified including financing, training, cooperative, data base, operation/ rationalisation and international issues.

The process includes a review of the legal and entrepreneurship policy framework, strengthening entrepreneur/cooperative governance, market expansion, rationalisation of entrepreneur development agencies, and a new financing mechanism that is more dynamic and open, it said.

“MED will come up with a strategic plan to rationalise and refocus all functions and roles of entrepreneur development programmes in order to support the nation’s economic agenda and create a conducive and integrated entrepreneurship ecosystem,” it added. – Bernama