Ewon: Vendors Day contributes to growth in Entrepreneurial Participations

5 October 2023

By AVV

KOTA KINABALU: The implementation of PPV (Vendor Participation Programme) is very important in the National Entrepreneurship Policy (DKN) 2030 as it had identified the implementation of PPV as a key initiative to strengthen the capabilities and performance of Micro, Small, and Medium Enterprises (MSMEs).

This initiative focuses on the participation of new Anchor companies, including government-linked companies (GLCs), multinational companies (MNCs), multi-level vendor development, and the expansion of high-growth sectors, Datuk Ewon Benedick the Minister of Entrepreneurship and Cooperative Development said today.

Speaking when launching the UEM Edgenta Vendor's Day 2023, in Kuala Lumpur, he said that Vendor PPV is part of the MSME ecosystem, involving nearly one million businesses in Malaysia and contributing nearly 37.4 percent to the Gross Domestic Product (GDP) in 2022.

MADEC (Entrepreneurship and Entrepreneur Corporation) aims to increase the contribution of local MSMEs to the GDP to 42 percent by 2023, and 50 percent by 2030 under the DKN 2030, he said.

”The Malaysian government through the Ministry of Entrepreneurship and Cooperative Development, which I lead, places great emphasis on the development of entrepreneurs, especially among Micro, Small, and Medium Enterprises (MSMEs) in line with the ministry's role,” he said.

“Therefore, to ensure the sustainability of the Bumiputera Economic Empowerment Agenda and achieve the objectives of the Shared Prosperity Vision 2030, the ministry has proposed the Vendor Development Programme (PPV) and continues to strengthen it over time. In implementing this program, MADEC has established strategic collaborations with 29 Anchor companies, comprising major industry players in the country, where UEM Edgenta Berhad is one of the 29 Anchor companies,” he stressed.

He said this serves as motivation for the vendors of UEM Edgenta Berhad to continue excelling and provide inspiration to other vendors who are present there, expressing his confidence that this programme also fosters closer cooperation and communication between the company and the vendors in achieving sustainability of supply chains and services.

“UEM Edgenta Berhad's efforts today should serve as an example to players in the industry, including GLC companies, MNCs, and other large local companies, to strengthen their respective vendors. Therefore, I express my confidence, on behalf of the government, in UEM Edgenta Berhad's ability to cultivate a new generation of entrepreneurs.”