Madani economy framework will boost MSME sector, says Ramanan

KUALA LUMPUR: The Madani Economy framework launched by Prime Minister Datuk Seri Anwar Ibrahim will be able to assist the Ministry of Entrepreneur and Cooperatives Development (Kuskop) in boosting the micro, small, and medium enterprises (MSME) sector.

Deputy Entrepreneur and Cooperatives Development Minister Datuk R Ramanan (pic) said this could be seen through the launching of the 2024 Kuskop Strategic Planning Document with the theme ‘Usahawan Madani, Memacu Ekonomi’ (Madani Entrepreneurs, Driving the Economy) in January.

"This strategic plan will be a catalyst for efforts to make Malaysia as a regional champion of MSMEs and subsequently achieve the target to emerge as one of the world's top 30 economies as outlined by the Prime Minister under the Ekonomi Madani: Memperkasakan Rakyat," he said.

He said this when winding up debate for the ministry on the motion of thanks for the royal address in the Dewan Rakyat on Wednesday (March 13).

Ramanan said more than 600,000 entrepreneurs are expected to benefit from various programmes planned in the 2024 Kuskop Strategic Planning Document, which outlines five strategic thrusts, 22 strategies, and 205 programmes.

Ramanan said that the document also aimed to enhance the scale and competitiveness of entrepreneurs and cooperatives, as well as strengthen the entrepreneurial service delivery system to be more facilitative and effective.

Meanwhile, he said Kuskop is always attentive to the needs of the hawker and small trader community by providing infrastructure facilities such as premises and conducive business stalls.

Among the initiatives was the Tamu Desa project, aimed at building and upgrading commercial space facilities and entrepreneurial infrastructure in rural areas in Sabah and Sarawak, with Uda Holdings being entrusted as the implementing agency.

"This project, involving a total allocation of RM19 million, will undoubtedly benefit rural hawkers and small traders," he said.

Kuskop has also applied for the Phase 1 project to upgrade 15 facilities for hawkers and small traders under the administration of local authorities (PBT), involving several states in Peninsular Malaysia, he added. - Bernama