KUALA LUMPUR: The Entrepreneur Development Ministry will implement a rationalisation process on all agencies engaging with entrepreneurs and small and medium enterprises (SMEs) to avoid duplication and financial wastage as well as reduce bureaucracy.
Deputy Minister Dr Mohd Hatta Md Ramli said the establishment of Bumiputera entrepreneur development units in all ministries had seen the creation of 120,625 Bumiputera entrepreneurs from 2014-2017 or 30,000 a year.
“In 2015, out of 920,624 local SMEs, 354,699 or 38.5 per cent were Bumiputera companies.
“These Bumiputera SMEs, divided among 25 ministries, contributed RM704.9 billion to gross output or 28.3 per cent of Malaysia’s total economic output,” he said.
He said the services sector generated the highest gross output at RM359.5 billion followed by manufacturing (RM256.6 billion) and construction (RM60.3 billion).
“However, gross output contribution from Bumiputera companies declined 3.4 per cent in 2015 compared with 2010.
“Looking at ventures which failed, we need to re-examine the existing entrepreneurial programmes (under 25 ministries) as they are found to be ineffective,” he said.
The deputy minister was responding to a question from Datuk Seri Ahmad Maslan (BN-Pontian) yesterday in the Dewan Rakyat on the breakdown of Bumiputera entrepreneurs under each ministry and if all Bumiputera entrepreneur development units would be dissolved.
Dr Mohd Hatta said the ministry will continue to empower Bumiputera entrepreneurs by instilling confidence and a first-class mindset, the main factors in creating successful entrepreneurs.
“Meanwhile, the ministry’s approach will be in line with the government’s intention to handle all issues based on need without taking into account race,” he added. – Bernama