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Securities Commission Malaysia chair Awang Adek Hussin has reaffirmed the importance of applying fintech in agriculture to strengthen the country’s food security.

The SC chairman delivered an opening address at the SCxSC Grow Fintech Conference held in Kuala Lumpur earlier today.

He noted that the agricultural sector’s contribution to Malaysia’s GDP declined from 29% in the 1970s to 6.6% in 2022. This has encouraged the Malaysian government to accelerate its financing initiatives to support the sector.

“Alternative financing avenues such as equity crowdfunding (ECF) and peer-to-peer (P2P) financing allow investors with the right risk appetite to mobilize capital directly for agripreneurs,” Awang Adek said. “This provides more options for younger and high-growth companies to access capital relevant to their business risk profiles.”

He noted that the agricultural sector’s contribution to Malaysia’s GDP declined from 29% in the 1970s to 6.6% in 2022. This has encouraged the Malaysian government to accelerate its financing initiatives to support the sector.

“Alternative financing avenues such as equity crowdfunding (ECF) and peer-to-peer (P2P) financing allow investors with the right risk appetite to mobilize capital directly for agripreneurs,” Awang Adek said. “This provides more options for younger and high-growth companies to access capital relevant to their business risk profiles.”

Source: https://www.techinasia.com/malaysias-securities-commision-alternative-financing-improve-agri-sector