Medac sets aside RM5.15 billion for SMEs via incentives, assistance

Dato Sri Dr Wan Junaidi Tuanku Jaafar

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KUCHING, March 15: The Ministry of Entrepreneur Development and Cooperatives (Medac) will roll out more grassroot-driven programmes, incentives and assistance worth RM5.15 billion in efforts to create conducive ecosystem that will allow the small and medium enterprises (SMEs) sector to thrive.

Its Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar in a press statement today, said it is also part of the ministry’s effort towards achieving Malaysia’s vision of becoming an outstanding entrepreneurial nation by 2030.

“Medac has allocated RM5.15 billion to be used for various types of programmes, including assistance, training, financing, to be carried out by its agencies, all of which would contribute towards enhancing the performance of the country’s SMEs sector,” he said.


Wan Junaidi noted the programmes and assistance carried out by the government, through its ministries and agencies, are mostly targeted towards those at the grassroot level, the B40s groups, and those who are severely impacted by the Covid-19 situation.

He believed that economic reforms must be rakyat-centric and grassroot driven, and by improving the socio-economic of the B40s, eventually it would help stimulate the domestic spending and consequently help aid the economy.

Meanwhile, Wan Junaidi said Medac is also targeting to groom 100 millionaires in the country a year from the SMEs sectors.

He said this would be made possible through the products, services, assistance and guidance provided by the ministry’s agencies, as well as smart partnerships with other parties.

“We are confident of being able to create a conducive ecosystem to help local enterprises thrive,” he said. — DayakDaily