THE Sarawak Government is committed to expanding funding access to Micro, Small and Medium Enterprises (MSMEs) and fostering innovation.
Deputy Premier Datuk Amar Awang Tengah Ali Hasan said that limited access to funding continues to hinder the growth of MSMEs and slows their technological advancement.
“To address this, MSMEs are encouraged to explore alternative financing such as crowdfunding and venture capital.
“At the same time, my ministry continues to provide financial assistance programmes, namely Graduan Ke Arah Keusahawanan (GERAK), Usahawan Teknikal dan Vokasional (USTEV), Go Digital Program, Sarawak Micro Credit Scheme (SKMS) and Skim Pinjaman Industri Kecil dan Sederhana (SPIKS).
“Since 2021, over 9400 MSMEs have benefited from these schemes, totalling RM204.3 million in funding,” he said.
He said in his ministerial winding-up speech at the Sarawak Legislative Assembly (DUN) sitting today.
Additionally, he said that the Federal and Sarawak agencies offer financial aid to support MSMEs in accessing funding and strengthening cash flow.
Awang Tengah, who is also International Trade, Industry and Investment Minister, said that to date, more than 178,000 MSMEs have benefited from the initiative, with approximately RM3.3 billion in approved funding from SME Bank, Amanah Ikhtiar Malaysia, Malaysian Industrial Development Finance Bhd, MARA and SEDC.
“These also include Green Financing for SMEs by Alliance Bank and Strategic Fund by OCBC to support investments in green and sustainable investments.
“Through collaboration with the government, my ministry will boost Sarawak’s global competitiveness and build a resilient business ecosystem,” he said.
Source: https://www.sarawaktribune.com/msmes-funding-access-expanded-to-foster-innovation/