MITI Okays Grants, Loans Worth RM1.06 Billion For SMEs

KOTA KINABALU, Nov 6 (Bernama) — Grants and loans worth
RM1.06 billion have been approved to 25,549 entrepreneurs engaged in
small and medium enterprises (SMEs) as of Sept 30.

Of the approved applications, 450 requests for grants and loans
worth RM88.3 million were received from SME operators in Sabah, said
Deputy Minister of international Trade and Industry Datuk Jacob Dungau

He said SME Corp Malaysia was handling applications for financial aid in the form of equalisation grants and soft loans.

Jacob also said the Government was committed in boosting awareness
among the people on the global halal industry and would ensure the
industry’s continued growth.

“Malaysia has an advantage in the halal industry as it is the
first country in the world to develop the standards for production,
preparation, handling and storage of halal food under MS1500:2009

Standard Halal Malaysia stipulates mandatory compliance to
international standard such as Best Manufacturing Practices and Best
Sanctity Practices, he said when opening a seminar on Bumiputera
Entrepreneurs in the Halal Industry.

As of Oct 15, Jacob said 2,913 applications from companies for
halal certification were approved by the Department of Islamic
Development Malaysia.

He said SME Corp also provides training in technical, management
and marketing aspects and courses related to halal initiatives in
efforts to upgrade skills and efficiency of SME workers.

” Up to end of September, 23,444 SME employees from throughout
Malaysia have undergone training under the programme. Of the total, 439
workers are from SME companies in this state,” he said.

In this regard, Jacob urged Bumiputera entrepreneurs not to miss
the chance to develop human capital by improving workers’ skills and
expertise in their companies.

On halal trade, Jacob said it has bright future, with the global market value touching RM9.7 trillion a year.

“In 2003, the world Muslim population was 1.6 billion and the
figure is expected to swell to three billion by next year,” he added.