Govt continues to help bumi entrepreneurs overcoming middlemen issue - Wee Jeck Seng

He said among the solutions is by assisting such entrepreneurs to deal directly with buyers from abroad in addition to listing them in various foreign countries' programmes for business matching

"Actually, we are not lacking Bumiputera entrepreneurs but we are looking for ways to help them grow their business so that they do not continue to depend on middlemen that causes their return margin to be smaller," he told reporters after a working visit at NZA Wood Trading Sdn Bhd in Semujuk here today.

He said the timber sector is an important and significant industry for the country's economic development and in 2020, the industry recorded a good performance with a total industry value of RM41.02 billion.

Therefore, he said, various programmes were drafted including raw material support programmes such as loan assistance amounting to RM16 million allocated under the Malaysian Timber Industry Board (MTIB) to entrepreneurs in the industry.

He said the loans were paid directly to suppliers to buy raw materials required by entrepreneurs who lacked capital to run their enterprises to meet the demand.

"This is a part of the government's measures in supporting efforts to increase the number of Bumiputera entrepreneurs in the industry as well as help them increase enterprise productivity.

"It is also to realise the target of producing 700 new entrepreneurs, involving 600 Bumiputera entrepreneurs, by 2025 through the 12th Malaysia Plan," he said.

He added that various other programmes are also planned such as increasing production capacity in Bumiputera small and medium industry (SME) woodworking factories, Credible Entrepreneur, Marketing and Promotion (CEMP) programme and Wood and Lifestyle Fair.