Entrepreneurs urged to make use of RM1.8 billion funds

Local entrepreneurs have been urged to grab various initiatives with funds amounting to RM1.82 billion allocated specially for them next year, said Deputy Finance Minister Datuk Ahmad Maslan.

He said it was hoped that more entrepreneurs from all communities would be created following the additional facilities offered in line with efforts to turn Malaysia into an entrepreneurial nation.

The funds provided included an additional RM700 million for the National Entrepreneurial Group Economic Fund (Tekun); an additional RM300 million for Amanah Ikhtiar Malaysia and RM300 million for Ekuibumi to buy equities of bumiputera companies.

Others include the Graduate Entrepreneur Fund (RM50 million), incentive for Small and Medium Enterprises (RM150 million) and Night Market Entrepreneur Scheme (RM100 million).

"Never have we given this much funding to help entrepreneurs," Ahmad told a news conference after officiating the Innovative Malay Entrepreneurs Workshop, here, Sunday.

He said night market traders, for example, can borrow up to RM30,000 with an interest rate of only two per cent.