Additional RM600 mln to bolster Bumi participation

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KUALA LUMPUR: The government will allocate RM600 million to further strengthen the position of Bumiputera entrepreneurs in efforts to boost their participation at the global stage, Prime Minister Datuk Seri Najib Tun Razak said  yesterday.

In announcing the additional allocation, Najib said RM400 million would be managed by the Economic Planning Unit in the Prime Minister’s Department.

He said RM100 million would be handled by Mara for corporate development to increase Bumiputeras’ equity.

The remaining RM100 million would be disbursed to Perbadanan Usahawan Nasional Bhd (PUNB) to help Bumiputera entrepreneurs secure strategic business locations at popular shopping centres to sell international brand products and services, he said before opening the Bumiputera Entrepreneurs’ Assembly.

Najib, who is also Finance Minister, announced that the ceiling for loans for Bumiputera entrepreneurs under Mara and TEKUN has been raised to RM100,000 from RM50,000 currently.

He also announced that the limit for financing under Mara has been increased to RM1 million from RM500,000 previously. — Bernama