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Micro, small and medium enterprises represent 97 per cent of Malaysia's business transactions and generate over half the nation's employment, Deputy Prime Minister Ahmad Zahid said, underscoring their essential contribution to economic stability.
Prime Minister Anwar Ibrahim has committed to accelerating loan approvals for Malaysia's micro, small and medium enterprises, with some government-backed schemes now disbursing funds within five working days.
Traders and fishermen in Sungai Rengit are calling on newly elected representatives to address decade-old infrastructure deficiencies, security concerns, and rising operational costs that threaten their economic survival.
The Uyarvu MADANI Grant by Malaysia's Indian Transformation Unit has attracted 1,340 applications within five days of launch, far exceeding expectations and signalling strong demand for entrepreneurial support among Indian business owners.
Malaysia's government is ramping up efforts to promote RM5 billion in micro-financing assistance offered through multiple agencies, recognising that uptake remains limited by poor awareness among eligible small traders and entrepreneurs.
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TEKUN Nasional is piloting a 24-hour approval process for financing below RM20,000, aiming to launch within two to three months. The initiative supports MSMEs needing quick access to working capital.
Malaysia is channelling RM9.8 billion through six major financial institutions to expand microfinance availability for small traders and hawkers, part of a grassroots initiative to ensure inclusive economic growth.
The Ministry of Entrepreneur Development and Cooperatives has allocated nearly RM100 million to finance more than 4,300 entrepreneurs in Melaka, reinforcing the state's MSME ecosystem as part of a broader national expansion strategy.