NEWS

Govt to provide RM445 mln grants for Bumiputera entrepreneurial development



KUALA LUMPUR, Oct 11  -- The government will provide grants amounting to RM445 million in terms of access to financing, provision of business premises and training to support Bumiputera entrepreneurial development, said Finance Minister Lim Guan Eng.

He said this included RM150 million for the overall entrepreneurship development and upskilling by Perbadanan Usahawan Nasional Bhd and RM75 million to SME Corporation Malaysia for capacity building and export focus for Bumiputera small and medium enterprises (SMEs) to enhance marketing, packaging and financial literacy.

“The government will also allocate RM170 million out of the total grants for financing access via Tekun Nasional, SME Bank and Pelaburan Hartanah Bhd, as well as RM50 million for entrepreneurship under the Bumiputera Agenda Steering Unit under the Ministry of Economic Affairs,” he said when tabling the 2020 Budget in Parliament here today.

Additionally, he said the government will provide a RM1 billion 1:5 matching guarantee for dedicated private equity funds to invest in Malaysian consortiums to catalyse and promote financing to construction consortiums bidding for projects and concessions overseas.

-- BERNAMA


 





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