MEDC achieved KPI for 2023

9 January 2024

By Nabalu News Journalist

KOTA BELUD: The Ministry of Entrepreneur Development and Cooperatives (MEDC) through its 10 agencies including SKM, Tekun, UDA, IKMa, Bank Rakyat, INSKEN, SME Bank, SME Corp, Pernas, and AIM, has successfully achieved the Key Performance Indicators (KPI) for the year 2023 through the implementation of various new and existing initiatives.

MEDC Minister Datuk Ewon Benedick said their successes included more than 22 new programmes, schemes, and assistance been introduced and implemented through its agencies.

He said this during the launching Ceremony of Kadamaian Development and Christmas and New Year Open House at Kadamaian Square Taginambur, Kota Belud yesterday.

He said the new initiatives include the Guest Entrepreneur Financing Scheme, Craft Entrepreneur Financing Scheme, Social Enterprise Financing Scheme, Sustainability Incentive Scheme, Sustainable Champion Scheme, Basic Course on Product and Service Development (KAPPS), Advanced Cash Management Course (KUT), BRPlus, BRTani, BRJohorniaga, Rakyat2E, RAKYATpreneur 4.0, Bank Rakyat UNIPreneur 3.0, SMEs Go Global Export Strengthening Program, Mikro MADANI Strengthening Programme, Bumiputera Enterprise Enhancement Program (BEEP) Plus Sabah and Sarawak.

“In an effort to encourage more individuals to receive training and become entrepreneurs in Sabah and Sarawak, INSKEN has opened its first branch in Sabah in May 2023 and its second branch in Sarawak in October 2023,” he said adding that under the KUSKOP 2023 Strategic Plan, a total of 187 programmes were implemented by the ministry and its agencies as of November last year, benefiting a total of 755,909 entrepreneurs, micro, small, and medium enterprises (MSMEs), and cooperatives nationwide.

The ministry has also achieved its KPIs in entrepreneurship exposure and cultivation programmes, increasing the number of entrepreneurs and cooperatives benefiting from capacity-building programmes, as well as facilitating and supporting entrepreneurship.

Through entrepreneurship cultivation programmes, as of November, a total of 326,474 SME entrepreneurs and cooperatives have participated in 24 programmes implemented by the ministry and its agencies, he said, adding that the programmes with the highest participation include the BizFrancais Webinar Program implemented by Pernas, with 199,961 participants, followed by the Cooperative Promotion and Encouragement Program by the Cooperative Commission of Malaysia (SKM) with 80,283 participants, and the Career Journey (ROAD) 2023 by BPES, with 13,919 participants.

“The new and existing initiatives implemented throughout 2023 have also produced 83,361 new entrepreneurs nationwide.”

In terms of financing assistance, including micro-credit financing, entrepreneurship grants, easy loans, and alternative financing, as of November 2023, a total of 292,530 individuals have benefited from a total financing amount of RM5.190 billion disbursed by the agencies under the ministry, he said.

“In this year, MEDC will implement several new initiatives and projects, including the Cooperative Tourism Stimulus Program under the Cooperative Commission of Malaysia (SKM) and the Village Tamu Project. Additionally, MEDC through SKM, will reintroduce the Young Entrepreneurs Strive For Success (YESS) Programme, which was postponed since 2019 due to the Covid-19 pandemic. IKMA will also implement two new programmes this year, namely the Targeted Guidance Programme for Large Cooperatives and the Mandatory Course (PLUS) (Advanced Cooperative Board Management Programme).”

“Today, in addition to the Launching of Kadamaian Development and the Christmas Open House Celebration, the Cooperative Madani Sales is also being held to provide an opportunity for the public, especially the Kadamaian community, to purchase daily necessities at lower prices than the usual market prices.”

“Furthermore, the ministry, through its 10 agencies, organises exhibitions. I encourage the public to take the time to visit and obtain further information about financing schemes, entrepreneurship guidance programmes, and other entrepreneurship-related information provided by each agency,” he said.

According to him, in Sabah, a Joint Committee for Entrepreneurship Development has been established by the State Government, co-chaired by him and Datuk Phoong Jin Zhe, Minister of Industrial Development and Entrepreneurship of Sabah.

“We have also initiated the establishment of the district-level Entrepreneurship, Cooperative, Hawkers, and Small Traders Development Council (MPUPKD) in Sabah. This council serves as a medium for the dissemination of information and communication between entrepreneurs, cooperatives, hawkers, and small traders regarding the functions, roles, and products and services provided by MEDC, including its agencies,” he elaborated.

Also, present during the event were Sabah Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe, Secretary General of the Ministry of Entrepreneurship and Cooperatives Development Dato Sri Suriani Dato Ahmad, Assemblyman Datuk Seri Salleh Tun Said, heads of state and federal government departments and agencies as well as state leaders.