RM800 million to help 32,000 Sarawak entrepreneurs

BAU, 16 September: More than RM800 million was disbursed to about 32,000 entrepreneurs in Sarawak through the Power Up 10K initiative controlled by the Ministry of Entrepreneurship and Cooperative Development (KUSKOP) for the first eight months of this year.

His manager, Steven Sim Chee Keong said the amount was part of RM9.6 billion that was distributed to 270,000 entrepreneurs across the country over the same period.

"This year's KUSKOP strategy framework is based on ABCD which is productivity leverage to help increase business productivity, reduced bureaucracy to speed up the process of loan and grant applications, capital gains to ensure entrepreneurs have access to the capital they need to do business and market access to help entrepreneurs market their products to wider markets", he said at a press conference after his Official Visit to Village Guest House in Mas Gading Parliament area, here today.

According to him, the initiative is part of KUSKOP's efforts to expand access to financing and support for micro, small and medium enterprises (SMEs).

He said the initiative also helps entrepreneurs to market products not only in Sarawak and Malaysia, but also to international markets.

"This approach is important to ensure entrepreneurs, especially rural PMKS, have the opportunity to develop their businesses and enjoy the benefits of economic development more fully", he said.