KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak yesterday launched two initiatives to assist local Chinese small and medium enterprises (SMEs) – the Secretariat for the Advancement of Malaysian Entrepreneurs (SAME), and the Chinese SMEs Entrepreneur Fund.
SAME, set up on Oct 1 last year under the Prime Minister’s Department, is a SME and micro credit development unit aimed at assisting SMEs in every dimension, while the SME financing scheme, with a RM50 million allocation from the government, offers soft loans of between RM50,000 and RM250,000.
Najib expressed confidence that with the two schemes in place, Malaysia’s journey towards transforming the nation’s economy would be successful.
“We must ensure that the private sector truly becomes the engine of growth. When we talk about the sector, what does it mean? More than 90 per cent of businesses in the country are SMEs and micro enterprises,” he said at the launch of the two schemes her yesterday. Also in attendance were MCA president-cum-Transport Minister Datuk Seri Liow Tiong Lai and Minister in the Prime Minister’s Department Datuk Dr Wee Ka Siong, who is also MCA deputy president.
Najib said SMEs’ contribution to the Malaysian economy is targeted to grow to 41 per cent by 2020 from 35 per cent currently, adding SMEs’ expansion would create employment, generate growth and increase exports.
“And this would ensure a stronger, more resilient economy,” he said. Loans under the scheme will be disbursed by Koperasi Jayadiri Malaysia Bhd (KOJADI).
“I was told that the Treasury has approved the disbursement in two weeks,” he said, adding both initiatives were created to respond to the requests of the Chinese community as voiced by MCA.
“As a nation, we must listen to the demands of the people, and we must act fairly. When we say this is a government that believes in inclusivity, it is also a government that stands for all Malaysians,” he said.
Meanwhile, Liow in his speech expressed gratitude to Najib for exercising his discretionary power and commitment with his ‘People First’ principles, and for supporting meaningful initiatives to assist and contribute to the development of the Chinese community in Malaysia. — Bernama