KUALA LUMPUR: Ministry of Entrepreneur Development (MED), which received RM489 million under 2019 Budget from the Finance Ministry, is hoping for more next year.
“As a new ministry, the MED received less than RM500 million under 2019 Budget for its 10 agencies. We want to develop entrepreneurs in business, especially to provide employment,” said its deputy minister Datuk Wira Dr Mohd Hatta Ramli.
Finance Minister Lim Guan Eng is scheduled to table 2020 Budget in Parliament on October 11.
A year ago, when Lim presented this year’s national budget which was the first budget by the Pakatan Harapan government, lawmakers approved of the total RM314.5 billion.
Of late, economists reportedly hinted that Lim was likely to table an expansionary budget to achieve Malaysia's economic goal of shared prosperity.
“Hopefully, in the upcoming 2020 Budget, we would receive more from the Finance Ministry to run programmes for the development of more entrepreneurs,” Hatta told reporters after officiating at the opening ceremony of the Organisation of Islamic Cooperation (OIC) Arab-Asia trade and economic forum 2019, organised in conjunction with the 9th Muslim World Biz exhibition and conference 2019.
He said his ministry was committed to building an inclusive entrepreneurship ecosystem that ensures the marginalised are given opportunities via the National Entrepreneurship Policy 2030.
"This policy is in line with the government’s priority in creating high skilled jobs as we embrace a digital economy.
“We want to see more Malaysians, regardless of race and age, to venture into non-traditional businesses such as in the maritime and aerospace engineering sectors,” he added.
Hatta said MED is organising trade missions to Indonesia, China and Thailand, in line with the country’s vision to become an entrepreneurial nation by 2030.
Also present at the media conference today was OIC international business centre chief executive officer Muhammed Raja Talib Raja Mohamad Abdullah.
The OIC international business centre was established in 2003 to promote intra-trade among the 57 OIC member countries.
Regular business-matchmaking sessions are organised to execute the OIC’s 10-Year Plan of Action to increase the intra-OIC trade to 25 per cent of the total OIC trade, by 2025.
"Currently, it contributes 16 per cent, mainly from the halal products, technology and investments in infrastructure," said Muhammed.
Earlier, in his speech to international delegates from more than 30 countries, he reiterated the goal of the Muslim World Biz is to provide an avenue for businesses from various industries to identify cooperation for mutual benefits.