KUALA LUMPUR – SME Corp Malaysia will continue to assist small and medium enterprises (SMEs) to improve and redevelop their businesses that have been affected by the COVID-19 pandemic, reported Bernama.
Chief executive officer Rizal Nainy said SME Corp will utilise two long-term strategies to focus on balanced and sustainable growth and ensure the overall growth of SMEs.
He said the first strategy was to increase the establishment of high-growth and innovative firms to boost gross domestic product through support in automation, digitisation and sustainability.
“The second strategy is to increase the contribution of micro enterprises (B40) to the economy,” he said at a meet-the-media session here on April 12.
Under the Strategic Programme to Empower the People and the Economy (PEMERKASA) announced by the Prime Minister recently, Rizal said SME Corp had been allocated RM60 million to implement two programmes, namely the SME Strengthening Financing Scheme and TUBE@PEMERKASA.
He said the SME Strengthening Financing Scheme, which would focus on helping marginalised SMEs, offers financing of up to RM250,000 with an interest rate as low as 3.0%.
“The TUBE@PEMERKASA programme is to prepare bumiputera youths who have strong interest to venture into business.
“This programme has also been identified as one of the programmes that can help unemployment among bumiputera youths and improve their socioeconomy,” he said.