KUALA LUMPUR: Young Malaysian entrepreneurs, especially those from small and medium enterprises (SMEs), have been urged to grasp the opportunities offered by the Asean business community and continue contributing towards the country's gross domestic product (GDP) and exports.
Youth and Sports Minister Khairy Jamaluddin said Malaysia has one of the most developed entrepreneurial ecosystems in the world with more than 20 government financial agencies ready to give out loans and grants to young entrepreneurs.
“The loans and grants are sometimes given out without collateral, just on the back of ideas.
“We want to ensure that if you have the passion and are able to take that risk in becoming entrepreneurs, the capital is there for you. The opportunities are there for you," he said in his speech at the launch of the Asean Yound Entrepreneurs Carnival 2016 (AYEC 2016) at Menara Matrade, here today.
The inaugural event is a collaborative effort between Malaysia External Trade and Development Corp (Matrade) and Malaysian Association of Asean Young Entrepreneurs (MAAYE).
It is also the first public-private sector initiative for young entrepreneurs since the inclusion of youths in entrepreneurship under the Asean Economic pillar in the Asean Economic Community (AEC).
The two-day event, officiated by International Trade and Industry Minister Datuk Seri Mustapa Mohamed, also saw the presence of Asean Business Advisory Council chairman Tan Sri Dr Munir Majid and Asean Young Entrepreneurs Council co-chair Syed Nabil Aljeffri.