A total of 12, 645 Indian entrepreneurs have benefited from various financing programmes worth RM 249.8 million under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP) from early 2024 up to October.
Deputy Minister YB Dato’ Seri Ramanan said the initiatives span several key schemes, including the Indian Community Entrepreneur Development Scheme (SPUMI), the Special Fund for Indian Women Empowerment (PENN), Bank Rakyat’s Indian Entrepreneur Financing-i (BRIEF-i) and Vanhigam Financing for Indian Entrepreneurs by SME Bank. According to Dato Ramanan, these programmes reflect the ministry’s commitment to expanding economic opportunities for entrepreneurs across the country.
“KUSKOP remains committed to empowering entrepreneurs nationwide, including Indian entrepreneurs, in line with the 2030 National Entrepreneurship Policy and the Malaysia MADANI vision, which focused on inclusive, balanced, and sustainable socio-economic development,” he said in the Dewan Rakyat.
Dato Ramanan also noted that the ministry has taken steps to streamline financing procedure, particularly by shortening approval times to make funding more accessible.
He highlighted that financing applications under TEKUN Nasional now require only minimal documentation, including an identity card, company registration document, three months of official bank statement, and the three photos of the business premises.
“The approval process has also been improved, taking just seven days compared with up to 21 days for many other banks”, he added.
Boosting Inclusive Growth
The ministry emphasised that these improvements are part of ongoing efforts to support underserved business communities, particularly micro and small Indian entrepreneurs, in strengthening their financial resilience and business growth.
With nearly RM250 million disbursed within 10 months, the initiative mark one of the most significant pushes toward inclusive entrepreneurship under the MADANI economic agenda.
Sources: BERNAMA
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