Village Market Projects to be initiated by UDA Holdings

14 March 2024

By Wartawan Nabalu News

KUALA LUMPUR: In 2024 the Ministry of Entrepreneur Development and Cooperative (MEDC) will initiate the Village Market Project with UDA Holdings as the implementing agency, aimed at constructing and upgrading commercial space facilities and entrepreneurial infrastructure in rural areas in Sabah and Sarawak.

Dato’ Ramanan Ramakrishnan the Deputy Minister of MEDC said at the Dewan Rakyat in response to the question by Kinabatangan Member of Parliament who raised the proposal to provide stalls for small vendors and traders.

“This project will involve a total allocation of RM19 million, which will undoubtedly benefit rural small vendors and traders,” he said.

“In addition, MEDC has also applied for the upgrading of facilities for 15 small vendor and trader facilities under the administration of Local Authorities (PBT) for Phase 1, involving several states in Peninsular Malaysia.

In reply to the Kudat Member of Parliament, MEDC Deputy Minister said there are various financing schemes and entrepreneur development programme that has been implemented.

He said a total of 1,392 entrepreneurs in Kudat have received funding under the National TEKUN involves funds amounting to RM16.75 million. For the year 2024, as much as RM6 million is estimated has been prepared by TEKUN for micro entrepreneurs in Parliament Kudat.

From 2020 to 2023, Amanah Ikhtiar Malaysia (AIM) has channeled financing amounting to RM9.33 million to Friends of AIM Entrepreneurs in Kudat Parliament. Besides, a total of RM7.98 million has been allocated in 2024 to a total of 1,995 AIM Entrepreneur Friends in Kudat Parliament.

Bank Rakyat has also channeled financing amounting to RM5.25 million to a total of 159 entrepreneurs in Kudat Parliament in 2020 to 2023. For 2024, as much as RM4.2 million has been allocated for entrepreneurs in Kudat Parliament by Bank Rakyat.

A total of 3 SME entrepreneurs in Kudat have also received financing amounting to RM2.74 million under SME Bank on the year 2023. Through the Bumiputera Youth Entrepreneur Budding Program (TUBE) under SME Corp., a youth entrepreneur from Kudat Parliamentary constituency has received an allocation grant of RM20,000 in the year 2023.

For this year 2024, a total of 5 youth entrepreneurs from Kudat will join the TUBE Program which is expected to start on month of May.