Assistant Minister of Industrial Development Datuk Julaihi Narawi said among agencies that provided financial assistance to entrepreneurs in the state were Ministry of Industrial Development, SME ...
THE government encourages entrepreneurs to be involved in business in Sarawak by providing financial assistance and incentives to small scale entrepreneurs to lighten their burden and develop their businesses.
Assistant Minister of Industrial Development Datuk Julaihi Narawi said among agencies that provided financial assistance to entrepreneurs in the state were Ministry of Industrial Development, SME Bank, SME Corp, Teraju, Matrade, Amanah Ikhtiar Malaysia, Tekun, SEDC and Mara.
He said SME Bank alone had disbursed a total of RM615.3 million worth of loans in the past three years. RM270.4 million was disbursed in 2013, RM159.5 million last year and RM185 million as of October this year.
“Besides financial assistance are many other assistance offered by agencies and commercial financial institutions. If they are fully utilised, I’m confident we can develop small and medium entrepreneurs (SMEs) in Sarawak,” he said in responding to a question raised by Alexander Vincent (BN-Ngemah) during the State Legislative Assembly sitting yesterday.
Julaihi said among the incentives offered by the government were pioneer status or investment tax allowance and reinvestment allowance for deserving SMEs, industrial areas that are developed by the government complete with water and electricity supplies and communication facilities.
“The government also provides competitive land premium, flexible payment method (five-year instalment), rebate (30 to 50 per cent) on land premium if project is completed within the period fixed depending on location and competitive electricity and water tariffs.”
He also revealed that under the 11th Malaysia Plan, the government is looking at ways to assist SMEs in Sarawak, especially in developing entrepreneurship in smaller towns such as Lundu, Sri Aman, Betong, Sebuyau, Marudi and Bau.
Julaihi said the government through its agencies provided various entrepreneur development programmes through the Ministry of Industrial Development, Malaysia Productivity Council and Mardi in the hope of increasing the capacity of SMEs in the state.