KUALA LUMPUR: The RM5 billion expected to be allocated for entrepreneur development under the 12th Malaysia Plan should be parked under the Entrepreneur Development Ministry.
Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof said this was to ensure the government’s plan to transform the country into a fully-developed as well as an entrepreneurial nation by 2030 could be realised.
He said instead of dividing the funds among several ministries, the whole sum should be allocated to his ministry as it would ensure entrepreneurs, especially budding entrepreneurs, could be empowered.
“The allocation for small- and medium-sized enterprises (SMEs) for 2019 is about RM4.5 billion, but it was divided between several ministries. This is the challenge under the 11th Malaysia Plan. As a new ministry, I don’t have the power to use this allocation for entrepreneur development.
“For the 12th Malaysia Plan, RM5 billion should be channelled directly to the Entrepreneur Development Ministry.
“I hope I will be given the funds to empower entrepreneurs,” he told the New Straits Times at Balai Berita here yesterday.
At the moment, he said, programmes on entrepreneurship or SMEs had to be brought to the National Entrepreneur Strategic Development Council first. Then it was up to other ministries to decide on their possible involvement in the programmes.
He said youth entrepreneurship programmes cost about RM1 billion, but the allocation was given to several ministries, including the Agriculture and Agro-based Industry Ministry, Primary Industries Ministry and Education Ministry.
“How else are we supposed to get funds to focus on our efforts so that the government can focus on the outcome of effective entrepreneur development programmes?
“The same applies to the development of entrepreneurial capabilities, which needs at least RM1.5 billion to cover all spectrums.
“This means we need to take from the funds given to other ministries so that we can conduct training.”
The Economic Affairs Ministry recently said the 12th Malaysia Plan would revolve around economic empowerment, environmental sustainability and social re-engineering.