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The Malaysian Ministry of Trade and Industry (MITI) has partnered with the Ministry of Entrepreneurship and Cooperative Development (KUSKOP) to address the low participation of Bumiputera companies in the manufacturing industry.
Minister Zafrul Aziz said one of the challenges is the lack of financing and the government has allocated RM2 billion in the New Industrial Master Plan (NIMP) 2030 to strengthen local companies. He pointed out that small and medium-sized enterprises are the main employers in the country and the government encourages banks to proactively support them.
Zafrulaziz also stressed the importance of capacity building and plans to address this challenge by sharing experiences and knowledge. At the same time, he mentioned the importance of ensuring market access for Bumiputera companies’ products and said the Malaysian External Trade Development Corporation (MATRADE) was assisting Bumiputera companies to compete in the global market.
(Source: nst Image source: freepik)
