MEDC implemented programmes to assist entrepreneurs effected by COVID-19
11 December 2023
By Wartawan Nabalu News
KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (MEDC) and its agencies have implemented various entrepreneurial programmes and provided financing schemes to assist in the recovery of Micro, Small, and Medium Enterprises (MSMEs), including affected cooperatives, due to the COVID-19 pandemic.
MEDC Deputy Minister Saraswathy Kandasami said this in Dewan Rakyat in reply to Senator Dato' Shamsuddin Haji Abd Ghappar who inquired on the government's success in its efforts to help entrepreneurs effected by the COVID-19 pandemic.
She stated that among the achievements recorded until November 2023 were disbursing financing to a total of 292,530 MSME entrepreneurs and cooperatives with a financing value amounting to RM5.19 billion through financing schemes such as TEKUN Niaga Financing Scheme, Ikhtiar Financing Scheme (SPI), and MSME Financing by Bank Rakyat.
They had also implemented capacity-building programmes and provided facilitation and entrepreneurial support to a total of 45,014 entrepreneurs through programmes such as INSKEN Business Training (IBT), Business In Transformation (BIT) by Pernas, and Micro Entrepreneur Business Development (BizME) by SME Corp.
Besides that, they had enhanced the provision of premises and business spaces, as well as opportunities to penetrate domestic and international markets, involving a total of 3,025 entrepreneurs through programs such as the UDA Entrepreneur Incentive Programme (PIUU) and the Business Exports Programme (BEP) by SME Bank, she said..
"Additionally, MEDC has collaborated 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 issues and bankruptcy risks."
"In 2022, a total of 664 entrepreneurs were made aware of the availability of second chance opportunities through various government initiatives. Out of this number, 40 entrepreneurs were selected to participate in the Special INSKEN Guidance Programme for a duration of 4 months, starting from 17 October 2022," she elaborated.