ID :
17458
Sat, 08/30/2008 - 10:45
Auther :
Shortlink :
http://m.oananews.org//node/17458
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GOVT TO ASSIST POOR HOUSEHOLDS AND BUMI ENTREPRENEURS
KUALA LUMPUR, Aug 29 (Bernama) -- The Government has taken several
initiatives to assist poor households and Bumiputera (sons of the soil) entrepreneurs as well as enhance access to financing for micro enterprises, the Finance Ministry said.
The various financing programmes of Amanah Ikhtiar Malaysia (AIM) have
helped the poor to uplift themselves from poverty and improve their livelihood, it said in the 2008/2009 Economic Report.
It said the Tabung Ekonomi Kumpulan Usahawan Nasional (TEKUN) or Economic
Fund for Group National Entrepreneurs had contributed towards the development of
Bumiputera entrepreneurs.
An important initiative in 2008 was the extension of microfinance to Indian
youths through TEKUN under the programme "Skim Pembangunan Usahawan Muda India
(SPUMI)", with a RM3 million allocation.
The SPUMI programme was carried out with the cooperation of Yayasan
Strategik Sosial, a non-governmental organisation which addresses the holistic
development of the Indian community.
The increased access to microfinance following the participation of banking
and development institutions will provide increased opportunities for micro
enterprises to grow and enhance their contribution to the economy particularly
in terms of employment creation and income generation.
The report said AIM has achieved considerable success in alleviating rural
poverty while TEKUN has contributed towards developing Bumiputera entrepreneurs
by providing them with microfinance.
The 2005 Census of Establishments and Enterprises conducted by the
Department of Statistics showed micro enterprises formed about 80 percent of the
small and medium (SMEs) enterprises in Malaysia.
The census also found only 13 percent of these micro enterprises relied on
financial institutions for financing. SMEs accounted for 99 percent of total
establishments, employed 5.6 million people and contributed 35 percent to Gross
Domestic Product (GDP).
There is huge potential to increase SME contribution to the economy. In
this
regard, a sustainable microfinance industry was essential in ensuring SMEs and
in particular, micro enterprises have access to adequate and continuous
financing from the formal financing system, it said.
During the first six months of 2008, the bulk of AIM loans amounting to
RM163.3 million or 63.3 percent of the total loans were disbursed for economic
activities, including business, agriculture, manufacturing, livestock and
services.
The report said AIM started "Program Kewangan Mikro Bandar" in April 2008,
with an initial RM100 million allocation.
The programme has just started in Kuala Lumpur and will be expanded to
other
major towns nationwide, it added.
-- BERNAMA
initiatives to assist poor households and Bumiputera (sons of the soil) entrepreneurs as well as enhance access to financing for micro enterprises, the Finance Ministry said.
The various financing programmes of Amanah Ikhtiar Malaysia (AIM) have
helped the poor to uplift themselves from poverty and improve their livelihood, it said in the 2008/2009 Economic Report.
It said the Tabung Ekonomi Kumpulan Usahawan Nasional (TEKUN) or Economic
Fund for Group National Entrepreneurs had contributed towards the development of
Bumiputera entrepreneurs.
An important initiative in 2008 was the extension of microfinance to Indian
youths through TEKUN under the programme "Skim Pembangunan Usahawan Muda India
(SPUMI)", with a RM3 million allocation.
The SPUMI programme was carried out with the cooperation of Yayasan
Strategik Sosial, a non-governmental organisation which addresses the holistic
development of the Indian community.
The increased access to microfinance following the participation of banking
and development institutions will provide increased opportunities for micro
enterprises to grow and enhance their contribution to the economy particularly
in terms of employment creation and income generation.
The report said AIM has achieved considerable success in alleviating rural
poverty while TEKUN has contributed towards developing Bumiputera entrepreneurs
by providing them with microfinance.
The 2005 Census of Establishments and Enterprises conducted by the
Department of Statistics showed micro enterprises formed about 80 percent of the
small and medium (SMEs) enterprises in Malaysia.
The census also found only 13 percent of these micro enterprises relied on
financial institutions for financing. SMEs accounted for 99 percent of total
establishments, employed 5.6 million people and contributed 35 percent to Gross
Domestic Product (GDP).
There is huge potential to increase SME contribution to the economy. In
this
regard, a sustainable microfinance industry was essential in ensuring SMEs and
in particular, micro enterprises have access to adequate and continuous
financing from the formal financing system, it said.
During the first six months of 2008, the bulk of AIM loans amounting to
RM163.3 million or 63.3 percent of the total loans were disbursed for economic
activities, including business, agriculture, manufacturing, livestock and
services.
The report said AIM started "Program Kewangan Mikro Bandar" in April 2008,
with an initial RM100 million allocation.
The programme has just started in Kuala Lumpur and will be expanded to
other
major towns nationwide, it added.
-- BERNAMA
