KUALA LUMPUR: The Entrepreneur and Cooperatives Development Ministry through the Vendor Development Programme has allocated RM33.5mil to help empower local Bumiputera companies between 2021 and last year, the Dewan Rakyat was told on Tuesday.
Deputy Minister Datuk R Ramanan said among the initiatives was the Vendor Research and Commercialisation Grant (GPPV) amounting to RM22.5mil.
"This initiative aims to increase the participation of Bumiputera vendors in research, development, commercialisation, and innovation activities, and a total of 43 Bumiputera vendor companies have benefited from this.
"A total of 64 Bumiputera vendor companies under the programme have benefitted from the Vendor Capacity Development Programme which aims at enhancing the capabilities of Bumiputera vendors through certification, accreditation, rating, and capacity development with an allocation of RM10.5mil," he said when replying to a question from William Leong Jee Keen (PH-Selayang).
Meanwhile, Ramanan said the ministry provided the Double Deduction Tax Incentive to anchor companies for expenses related to Bumiputera vendor programme development, up to RM500,000 in 2022.
Ramanan explained that the Bumiputera Vendor Development Programme, which was reintroduced in 2018, is not under the ministry but rather the ministry assists Bumiputera companies through the programme.
"Based on the programmes conducted under the programme, a total of 1,303 companies have been assisted, including over 100 companies in the automotive sector, 60 in transportation, and 28 in oil and gas.
"Energy and utilities (400), telecommunications (100), pharmaceuticals and medical devices (80), real estate and agriculture (322), services (201), food and beverages (12), and every vendor application must go through a selection process and pitching via the ministry," he said. - Bernama
