MEDC has produced 75,600 new entrepreneurs as of September 2023 - Ewon

23 November 2023

By Wartawan Nabalu News

KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (MEDC) has successfully generated a total of 75,600 new entrepreneurs as of September this year.

Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick, stated that this achievement is the result of the implementation of MEDC's Strategic Plan, which involves 12 initiatives aimed at developing new entrepreneurs this year.

"Among the programmes implemented are the New Entrepreneur AIM Trustee Friend Program, New Entrepreneur TEKUN Programme, Franchise Enhancement Programme, Dropship & Agent Programme, Bumiputera Youth Entrepreneur Programme, Graduate Mentoring Programme, Apprentice Entrepreneur Programme, Career Training and Entrepreneurship Placement for TVET Graduates, and several other programmes.

"Through these programmes, we have produced a total of 75,600 new entrepreneurs so far for this year alone," he said in response to a question by Member of Parliament for Kulim Bandar Baharu, Roslan Hashim, during the Minister's Question Time (MQT) session today.

The Member of Parliament inquired about the ministry's efforts to assist affected entrepreneurs, including those who have closed down their businesses.

Ewon stated that in their efforts to assist affected entrepreneurs, MEDC, through its agencies, has implemented several initiatives to help them recover their businesses.

He said that among the measures taken is providing financial assistance such as financing schemes under TEKUN Nasional and the Ikhtiar Financing Scheme under AIM.

"The financing agencies under MEDC have also facilitated the application process by reducing the required documentation and shortening the processing time," he said.

In addition, he said that the ministry also collaborates with the Credit Counseling and Debt Management Agency (AKPK) for the implementation of the Second Chance Opportunity Intervention Programme to assist entrepreneurs facing serious financial management problems and the risk of bankruptcy.

"In 2022, a total of 664 entrepreneurs were made aware of the availability of second chance opportunities through various initiatives provided by the government.

"Out of that number, 40 entrepreneurs were selected to participate in the Special Guidance Programme of the National Entrepreneurship Institute (INSKEN) for a period of four months starting from October 17, 2022. SME Corp. has also signed a Memorandum of Understanding (MoU) with AKPK on February 3, 2023, as an effort to assist micro, small, and medium enterprises (MSMEs) in financial and credit education and management.

"This strategic cooperation is seen to help and facilitate MSMEs in making wise and prudent financial decisions, especially in the post-pandemic era," he said.- ends