Comprehensive information on MEDC for entrepreneurs

25 October 2024

KOTA MARUDU: The Minister of Entrepreneur Development and Cooperative (MEDC), Datuk Ewon Benedick informed entrepreneurs in Kota Marudu about new programmes and funding for Sabah and Sarawak, recently.

He shared that since assuming office in December 2022, he had emphasized on the need to enhance focus on East Malaysia, particularly in light of the economic growth in Peninsular Malaysia. He advocated for the development of the Look East Policy to harness the economic potential of Sabah and Sarawak.

He made this statement during his speech at the Entrepreneurial Dialogue Series, which was attended by over one hundred entrepreneurs from various age groups and industries, selected from Tandek and Bandau. The event was organised by Progressive Welfare Association led by Jamil Majingkin.

The Minister’s speech was delivered by his Political Secretary, Carl Mosoom.

Ewon outlined the Ministry's initiatives, including the introduction of MEDC programs tailored to the unique challenges faced by entrepreneurs in these regions.

Key initiatives include appointing local representatives in MEDC agencies, promoting Borneonisation, and collaborating with state governments to support small and medium enterprises (MSMEs) and cooperatives.

He also highlighted MEDC programmes include National Cooperative Day, National Small Traders and Hawkers Day, Sabah & Sarawak SME Week, and various entrepreneurship events.

The Yayasan Bank Rakyat Education Assistance, Malaysian Cooperative Commission (MASKOP) Programme, and Madani Cooperative Sales and Halal Industry Development Programme were also introduced.

Expanding MEDC services in Sabah and Sarawak involves opening INSKEN offices in Kota Kinabalu and Kuching, establishing branch offices for Tekun Nasional and SKM, and considering new branches and mobile banking facilities.

UDA Holdings is also being considered for Bumiputera property development projects in the region, he said.

Regarding the Borneonisation of the federal public services in Sabah and Sarawak, he said that this initiative is closely tied to the Malaysia Agreement 1963 (MA63).

Currently, discussions and efforts to address this matter are taking place at various relevant levels, including within the Malaysia Agreement 1963 Implementation Action Council (MTPMA63).

To ensure effective implementation, it is recommended that heads of departments within MEDC agencies in Sabah and Sarawak be appointed from among local staff, provided they meet the necessary criteria, such as seniority and potential. Additionally, it is essential to develop a comprehensive succession plan to support this initiative.

“MEDC and its agencies will continue to enhance service access to clients (SME and cooperative entrepreneurs) nationwide. The ministry will also develop additional focuses suitable for Sabah and Sarawak. For women entrepreneurs, MEDC, through its agencies, provides specific financing for women, including the AIM Empowerment Financing Scheme, TEKUN-Women Financing Scheme (TekunNita), Women Entrepreneur Empowerment Program under INSKEN, BRPlus-iBizLady Financing Scheme, and the Successful Women Entrepreneurship Engagement Talent (SWEET) Programme by Pernas.

"TEKUN Nasional also provides a Craft Entrepreneur Financing Scheme aimed at helping micro-category craft entrepreneurs to expand their businesses, build a sustainable local craft entrepreneur network, create job opportunities, and maintain local cultural and artistic heritage values,” he stated.

“This scheme targets entrepreneurs engaged in handicraft-related businesses, such as existing local craft entrepreneurs, new entrepreneurs in the craft industry, small-scale local entrepreneurs, and entrepreneurs marketing craft products from manufacturing companies.

The scheme provides financing ranging from RM1,000 to RM100,000. Applications can be made through the nearest TEKUN Branch Office (Over the Counter) to the applicant's business premises.

He urged entrepreneurs throughout Sabah, to seize the opportunities provided by the government, particularly the agencies under the MEDC.

“As the Minister responsible for entrepreneurship and cooperatives development in this country, I want to see many people from Sabah succeed like entrepreneurs from across the country.”