MEDC’S agencies channeled RM953.9 million to entrepreneurs in Sabah, RM731.2 million in Sarawak, in 2023 - Ewon

27 June 2024

KUALA LUMPUR: A total of RM1.685 billion in funding to entrepreneurs in Sabah and Sarawak was channelled by the Ministry of Entrepreneurship and Cooperative Development (MEDC) through its agencies.

Its Minister Datuk Ewon Benedick said, of that amount, RM953.9 million of funding was channelled in Sabah and RM731.2 million in Sarawak.

He said, that among the agencies involved in channelling the funding were SME Corp. Malaysia, Kekun Nasional, Amanah Ikhtiar Malaysia (AIM), National Institute of Entrepreneurship (INSKEN), SME Bank and Bank Rakyat.

"MEDC through its agencies is always committed to implementing various inclusive programs for all entrepreneurs and cooperatives throughout the country," he said at the oral question session, Dewan Rakyat Conference, here, yesterday.

He said this in response to a question from Datuk Muslimin Yahaya (Sungai Besar), who asked what the Ministry's proactive initiatives were in helping small entrepreneurs, especially among the B40 and youth entrepreneurs in the interior and rural areas of Sabah and Sarawak.

Ewon said, MEDC and agencies under the ministry have implemented special programs to increase the empowerment of entrepreneurs, especially the B40 group and young entrepreneurs in the rural areas of Sabah and Sarawak.

Among them were the Sabah and Sarawak Bumiputera Enterprise Enhancement Programme (BEEP) Plus by SME Corp. specifically for Sabah and Sarawak Bumiputera entrepreneurs.

"Since it was implemented in September 2023 until May 31, 2024, a total of 112 micro entrepreneurs in Sabah and Sarawak have been approved for grants amounting to RM9.4 million.

"For the period 2021 until May 31, SME Corp. has also implemented the Bumiputera Youth Entrepreneur Budding Programme (TUBE) in Sabah and Sarawak which benefited a total of 1,171 youth entrepreneurs with a grant amounting to RM17.1 million," he said.

Apart from that, he said, SME Corp has also implemented the Micro Entrepreneur Business Development Programme (BizME) which benefits a total of 977 participants in Sabah with an allocation of RM1.64 million and a total of 372 participants in Sarawak involving an allocation worth RM1.01 million for the period 2021 to May 2024.

Ewon said, for the Tamu Entrepreneur Financing Scheme under the National TEKUN, a total of 505 hawkers and small traders in Sabah and Sarawak received benefits with a financing value of RM2.2 million.

"For young entrepreneurs, in 2023, TEKUN Nasional has channeled funding amounting to RM1.039 million to 75 youth entrepreneurs in Sabah and Sarawak under the Youth Entrepreneur Financing Scheme," he said.

Meanwhile, for the i-MUDA Initiative Funding Scheme by AIM, a total of 9,894 young entrepreneurs in Sabah and Sarawak received benefits with a funding value of RM55.4 million for the period from January to May 2024.

He said, INSKEN has also opened a Branch Office in Sabah on 25 May 2023 in Sabah and in Sarawak on 1 October 2023.

"Since then, INSKEN has implemented 52 programmes involving a total of 1,773 entrepreneurs in Sabah and Sarawak.

"The iTekad programme by SME Bank in Sabah and Sarawak involves a total of 60 B40 entrepreneurs with an allocation grant of RM300,000. Meanwhile, under Bank Rakyat's iTEKAD program, a total of RM345,000 has been distributed to 69 B40 entrepreneurs in Sabah and Sarawak.

"The Online Intensive Training Programme for New Generation Entrepreneurs (N-GENE), the Career and Entrepreneurship Training Programme for TVET Graduates (GRACE) and the Apprentice Entrepreneur Programme (SPACE) under PROTEGE have benefited a total of 48 graduate entrepreneurs in Sabah and Sarawak in 2023," he said.

He said his ministry also provided a commercialisation and marketing platform through the exhibition and sale of products to local entrepreneurs through Showcase One Industrial District (SDSI) in Sabah and Sarawak in addition to the organisation of the National Level Hawkers and Small Traders Day Carnival (HPPK) in Sabah in 2023.

Ewon said, this year KUSKOP started the Tamu Desa Project which aims to build and upgrade business space facilities and entrepreneurial infrastructure in rural areas in Sabah and Sarawak.

"It involves an allocation amounting to RM9 million for the implementation of Phase 1 which includes new construction or upgrading of 36 rural tamu sites in Sabah and 13 rural tamu sites in Sarawak," he said.