ADDITIONAL RM1 BLN FUND ALLOWS ENTREPRENEURS TO EXPLORE MARKET OPPORTUNITIES
KUCHING, July 29 (Bernama) -- The RM1 billion additional fund to support local start-ups and technopreneurs announced by the government on Thursday is in tandem with the latest technological developments involving business and entrepreneurship.
Sarawak Deputy Minister of Youth, Sports and Entrepreneur Development Dr Ripin Lamat said the additional fund will allow local entrepreneurs with technical and vocational education training (TVET) backgrounds to explore bigger business and market opportunities.
"This is good planning by the federal government to help our entrepreneurs, especially those who are involved with TVET and adapt technology in developing their businesses.
"Digital technology is what drives businesses now and in the future because it is one of the main elements to develop the country's business sector," he said at a press conference after the opening ceremony of Bizfrancais@Sarawak 2023 here, today.
Prime Minister Datuk Seri Anwar Ibrahim, who is also the Finance Minister in his speech at the launch of MADANI Economy: Empowering the People initiative said the government and government-linked investment companies (GLIC) will channel an additional RM1 billion in funds to match with private funds, adding that the move aims at providing funds for each phase of high-growth companies, among other things.
The effort is one of the government's plans following the country's achievement in the World's Strong Starters Ranking list, based on the Global Startup Ecosystem Report 2023 that places Malaysia the 20th place with the value of the Malaysian startup ecosystem reaching US$46 billion for the first half of 2020 to 2022.
-- BERNAMA
