ID :
46126
Tue, 02/17/2009 - 18:34
Auther :
Shortlink :
https://oananews.org//node/46126
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MITI PROPOSES SPECIAL FUND FOR SMEs, SAYS MINISTER
KUALA LUMPUR, Feb 17 (Bernama) -- The International Trade and Industry Ministry
will suggest to the Treasury to set up a special fund for small-and medium-scale
enterprises (SMEs) particularly SMEs engaged in the service and manufacturing
sectors.
Minister Muhyiddin Yassin said his ministry would also propose strategies
that would generate businesses for 500,000 SMEs employing five or six million
people.
"We'll ensure SMEs survive the challenges and pressures in an economic
uncertainty environment," he told reporters after opening the 2009 Bumiputera
(sons of the soil)Entrepreneurs' Convention.
Muhyiddin said his ministry would also provide inputs on how to help SMEs
reduce cost of doing business, simplify business dealings and to re-train
workers to avoid being laid-off.
Many SMEs downsize their operations and lay-off workers due to waning
demand, he said, adding that about 2,000 SME employees were retrenched last
month.
Muhyiddin also said the ministry had received encouraging response from the
industrial sector over the reduction in electricity tariff "though the rate was
small not even three percent."
"But we understand this is not the only measure that can be done for now as
the government is adopting a holistic approach and not tariff only," he said.
The minister also said MITI was preparing a master plan for Bumiputera
Development in the manufacturing and Service sectors involving 10,000 companies.
The plan is to identify issues and problems faced by the companies and map
out core strategies to strengthen their participation in the two sectors.
Earlier, in his speech, Muhyiddin said the government has approved RM14.41
million to 233 Bumiputera SMEs until last year under the Bumiputera Enterprises
Upgrading Programme under the supervision of the Small and Medium Industries
Development Corporation (SMIDEC).
A total of RM13.57 million was channelled by the Malaysian External Trade
Development Corporation (MATRADE) to 1,500 SMEs through the Market
Development Grant programme last year.
-- BERNAMA
will suggest to the Treasury to set up a special fund for small-and medium-scale
enterprises (SMEs) particularly SMEs engaged in the service and manufacturing
sectors.
Minister Muhyiddin Yassin said his ministry would also propose strategies
that would generate businesses for 500,000 SMEs employing five or six million
people.
"We'll ensure SMEs survive the challenges and pressures in an economic
uncertainty environment," he told reporters after opening the 2009 Bumiputera
(sons of the soil)Entrepreneurs' Convention.
Muhyiddin said his ministry would also provide inputs on how to help SMEs
reduce cost of doing business, simplify business dealings and to re-train
workers to avoid being laid-off.
Many SMEs downsize their operations and lay-off workers due to waning
demand, he said, adding that about 2,000 SME employees were retrenched last
month.
Muhyiddin also said the ministry had received encouraging response from the
industrial sector over the reduction in electricity tariff "though the rate was
small not even three percent."
"But we understand this is not the only measure that can be done for now as
the government is adopting a holistic approach and not tariff only," he said.
The minister also said MITI was preparing a master plan for Bumiputera
Development in the manufacturing and Service sectors involving 10,000 companies.
The plan is to identify issues and problems faced by the companies and map
out core strategies to strengthen their participation in the two sectors.
Earlier, in his speech, Muhyiddin said the government has approved RM14.41
million to 233 Bumiputera SMEs until last year under the Bumiputera Enterprises
Upgrading Programme under the supervision of the Small and Medium Industries
Development Corporation (SMIDEC).
A total of RM13.57 million was channelled by the Malaysian External Trade
Development Corporation (MATRADE) to 1,500 SMEs through the Market
Development Grant programme last year.
-- BERNAMA
