MED eyes six new anchor firms under VIPP

KUALA LUMPUR: The Ministry of Entrepreneur Development (MED) targets six more anchor firms under the Vendor Innovation Partnership Programme (VIPP).

Deputy Minister Datuk Dr Mohd Hatta Md Ramli said this would promote the development of small and medium enterprises (SMEs) and contribute up to 50 per cent of government revenue.

“For development, we depend a lot on new anchors, each of which will have their own vendors. We will also set the target to add more vendor firms.

“MED also provides a platform for anchor and vendor companies to expand their business through cross-cutting, covering all aspects of the food chain,” he said at a media conference after launching the programme here yesterday.

He said there are currently 21 anchor and 1,228 vendor firms under the ministry’s Vendor Development Programme (PPV).

“Under the VIPP, the ministry hopes to attract more anchor and vendor companies from various industries to empower the PPV as one of the entrepreneurship development platforms in line with the aspirations of the National Entrepreneurship Policy 2030 (DKN 2030) and Shared Prosperity Vision 2030,” he said.

Dr Mohd Hatta also witnessed the signing of a Memorandum of Understanding (MoU) between SME Bank and Celcom Axiata Bhd under which SME Bank is the main financing institution that supports Celcom Axiata’s Vendor Development Programme 2.0.

He said 500 business matching sessions are planned for vendors to explore new business opportunities and expand into other sectors.

The two-day inaugural VIPP event features sessions on best practices and IR 4.0 by 21 local and foreign entrepreneurs.

“We target 5,000 visitors to the event which features 16 pavilions by anchor firms and 12 booths by technical agencies and financial institutions,” he added. — Bernama

For development, we depend a lot on new anchors, each of which will have their own vendors. We will also set the target to add more vendor firms. Datuk Dr Mohd Hatta Md Ramli