US PROPOSES POLICY FRAMEWORK TO SUPPORT ENTREPRENEURSHIP

KUALA LUMPUR, Oct 5 (Bernama) -- A key aspect for nurturing entrepreneurs is
to foster a conducive policy framework that encourages innovation, including
open investment policies and measures, to make it easy for entrepreneurs to
start their businesses.

US Assistant Secretary for Economic, Energy and Business Affairs, Jose
Fernandez, said there was a need to enhance entrepreneurship among the people as
entreprenuers were the engines of economic growth and job creation.

"Entrepreneurship and the innovation it engenders will be an essential
element to restore growth to economy, create job opportunities and lead the way
to technologies that address the 21st century challenges in climate change,
public health, education and food security, among others," he said at the forum
on "New Beginnings-Connecting Through Entrepreneurship" here Tuesday.

Fernandez said through the businesses entrepreneurs created, they would also
in turn underpin a political stability and the growth of civil society.

He said entrepreneurs would help boost the economy, not just for personal
gain, but for the payoff of seeing their ideas become a reality, and of
improving lives in their communities.

Fernandez said the definition of entrepreneurs was vast, as "it not only
includes people who start businesses and produce innovative products and
services for profit."

"It also includes people, called the 'social entrepreneurs', people who see
needs in society and organise efforts to address them by creating not-for-profit
charitable organisations, advocacy groups or educational institutions," he said.

The assistant secretary said the US was committed to help the country that
wanted to provide a good ecosystem for entrepreneurs.

"Through efforts such as the newly-launched Global Entreprenuership
Programme, the State Department aims to provide synergies for your entrepreneurs
and ours by ensuring that there is coordinated, holistic approach to
supporting entrepreneurs by assembling domestic and international partners, to
provide support in six key areas of activity," he said.

He said the areas included identifying promising entrepreneurs; training
them; connecting them to each other and sustaining their efforts and
entreprises; guiding them to sources of capital; advocating for supportive
policies and regulations; and, celebrating their success.
-- BERNAMA