KUALA LUMPUR: The Entrepreneur Development Ministry should build an inclusive entrepreneurship ecosystem that ensures the marginalised are given opportunities to thrive as stated in the new National Entrepreneurship Policy 2030 (DKN2030), says Tun Dr Mahathir Mohamad.
The Prime Minister said it should look into the potential of younger generation entrepreneurs, whether relating to start-ups or social enterprises.
He said there was also great potential in the 14,000-plus cooperatives, which have more than 6.5 million members.
“This equals to a share capital of about RM15bil, which should be developed as best as it could,” he said when launching the DKN2030 yesterday.
Dr Mahathir said the ecosystem should also be expanded to include the low-income B40 group, those with disabilities, Orang Asli, women and youths.
“With the policy, I hope all overlapping issues relating to the policy and entrepreneur development jobs as well as activities by the various ministries will be coordinated,” he said, adding that he also hoped the policy would build an entrepreneurial culture.
Dr Mahathir also said that the International Monetary Fund (IMF) report showed that Malaysia could become a high-income nation by 2021 or 2022.
He said the IMF’s latest World Economic Outlook 2019 report revealed that Malaysia’s per capita income was expected to increase.
He also noted that Malaysia still managed to draw foreign investments, where during the first quarter of this year, foreign direct investments touched RM21.7bil compared with RM11.2bil for the same period last year.
Dr Mahathir added that small and medium enterprises were important assets of the government, they not only enhance the economic level of the people but also move the country out of the middle-income trap.
As such, under the 11th Malaysia Plan, entrepreneurship had been identified as one of the main fields targeted for Vision 2020, he said.
On the DKN2030, Dr Mahathir said the policy would be a blueprint for Malaysia to ensure that its entrepreneurial objectives were achieved.
It was important to put entrepreneurship as a key strategy for the development of the country’s economy, he said.