KUALA LUMPUR: A total of 12,645 Indian entrepreneurs have benefitted from various financing programmes amounting to RM249.8mil under the Entrepreneur Development and Cooperatives Ministry from last year to October this year.
Deputy Minister Datuk Seri R. Ramanan (pic) said the initiatives include the Indian Community Entrepreneur Development Scheme (Spumi), the Special Fund for Indian Women Empowerment (PENN), Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i), and Vanigham Financing for Indian Entrepreneurs by SME Bank.
"The ministry remains committed to empowering entrepreneurs nationwide, including Indian entrepreneurs, in line with the 2030 National Entrepreneurship Policy and Malaysia Madani vision, which focuses on inclusive, balanced, and sustainable socio-economic development,” he said in reply to S. Kesavan (PH-Sungai Siput) in the Dewan Rakyat on Tuesday (Nov 18).
Ramanan added that the ministry is also simplifying financing procedures by shortening approval times.
"For example, applications under Tekun Nasional only require a copy of the identity card, company registration document and three months’ official bank statements, as well as three photos of the business premises.
"The approval process has also been improved, taking just seven days, compared with up to 21 days for many other banks,” he said. – Bernama
