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Government aims to produce 600 bumi entrepreneurs in wood and furniture industry by 2025, says Wee Jeck Seng

By on March 23, 2021 0

PUTRAJAYA: The government aims to produce 600 bumiputra entrepreneurs in the wood and furniture industry by 2025 through several initiatives which include training, incentives and provision of loans, the Deputy Minister of primary and commodity industry Datuk Seri Dr Wee Jeck Seng (Photo).

According to Wee, this is because bumiputra participation in the wood and furniture industry is low, as there are currently only 471 bumiputra entrepreneurs in the industry.

He also said that the contribution of bumiputera entrepreneurs based on the value of exports is estimated at less than 1%.

“On this issue, the bumiputra economy strengthening program will be our main mission and the government is always proactive in strengthening the position of bumiputra entrepreneurs so that they can compete in the international market,” Wee said during of a press conference on Tuesday 23 March. ).

Prior to the press conference, Wee officiated an event as part of the VenTureS program at the Everly Hotel in Putrajaya. This is an awards ceremony involving 20 new bumiputra entrepreneurs who have undergone training sessions, and eight strategic partners receiving certificates and plaques as a sign of appreciation.

Wee had represented Minister of Primary Industries and Commodities Datuk Dr Mohd Khairuddin Aman Razali, who was absent for official reasons.

Wee also attended a ceremony where a Memorandum of Understanding (MoA) for the Smart Partner Program was signed between the Malaysian Timber Industry Board (MTIB), two strategic partners – Promptcon Enterprise Sdn Bhd, Pusan Furniture Industries (M) Sdn Bhd – and two new bumiputra entrepreneurs.

He said the aim of the smart partner program is for bumiputra entrepreneurs to learn from successful furniture manufacturers before starting their respective businesses.

“Training entrepreneurs will have the opportunity to start their business as a furniture seller/contractor, not only for the local market, but also for the international market.

“Therefore, I urge young people to join this program so that they can become successful entrepreneurs,” he said.

Wee added that there are a total of 22 new bumiputra entrepreneurs and 10 new strategic partners involved in the VenTureS and Smart Partnership programs.

At the same time, Wee explained government initiatives, among them a program to increase the production capacity of timber factories owned by bumiputra entrepreneurs.

Under the program, Wee said high-tech machinery will be loaned to eligible bumiputra entrepreneurs to increase their productivity and capacity.

Wee also said easy loans will be provided under the Commodities Support Scheme to help entrepreneurs get loans to buy raw materials.

Meanwhile, Wee said MITB implemented the Credible Entrepreneur, Marketing and Promotion program to guide Bumiputera entrepreneurs in producing products for the export market.

“Under this program, three entrepreneurs successfully produced their own brand furniture for the export market,” he added.

Wee said his ministry, through the MTIB, will continue to implement various programs to ensure bumiputra entrepreneurs are more competitive in the global market.