KUALA LUMPUR, Aug 8 (Bernama) -- The Entrepreneur Development and Cooperatives Ministry (KUSKOP) hopes for increased allocations to empower small and medium enterprises (SMEs) through Budget 2025.
Its deputy minister Datuk R. Ramanan said that with larger allocations, various initiatives could be implemented to assist SME players, including providing grants to expand their businesses.
“As the backbone of the national economy, we (KUSKOP) hope to upgrade SMEs in the country and offer them business opportunities, not only domestically but also internationally.
“Therefore, we will submit our proposals and requests on this matter to the Finance Ministry, and thereafter, we will await their feedback,” he said.
He told reporters this at the Memorandum of Understanding (MoU) exchange ceremony between KUSKOP and 10 new and existing anchor companies for the implementation of the Vendor Development Programme (PPV) here today.
Budget 2025 is scheduled to be tabled in the Dewan Rakyat on Oct 18.
Meanwhile, Ramanan urged vendor companies to enhance their performance and capabilities without relying entirely on assistance from anchor companies.
He said in the current challenging economic climate, each vendor company needs to have strong resilience, the ability to adapt to current conditions and a creative and innovative mindset.
“At the same time, I encourage anchor companies to join the government in developing suitable programmes for new entrepreneurs who have the aspiration and capability to become suppliers or vendors to the anchor companies,” he said.
In another matter, Ramanan said throughout his tenure under Prime Minister Datuk Seri Anwar Ibrahim, he observed Anwar's openness and transparency in handling various issues.
“If we look at his ministry, if there are wrongdoings, action is taken. It doesn’t matter whether it is the Ministry of Finance or KUSKOP, the way he addresses problems is by confronting the issue directly… (this shows) he is very transparent and clear about things,” he said.
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