Malaysian Budget Allocates RM470 Million towards Women-Led MSMEs

RM470 million allocation for the financing funds that aims at assisting micro, small and medium enterprises (MSMEs) that are led by women, shall play a significant role in supporting female entrepreneurs for securing certain aspects like working capital, acquiring assets as well as business expansion capacity to higher levels.

Tan Sri Soh Thian Lai, the president of Federation of Malaysian Manufacturers (FMM) said that supporting such financing access aligns with the efforts of FMM for promoting women entrepreneur’s growth in addition to sustainability while driving inclusive economic development.

He added, “We welcome the initiative of RM470 million in financing funds provided by SME Bank, Bank Simpanan Nasional, Bank Rakyat, and MARA, which FMM has been actively advocating.”

In addition, Datuk William Ng, the president of Small and Medium Enterprises Association (SAMENTA) Malaysia stated, “In particular, the RM 3.8 billion for automation and digitalisation will be helpful, while the RM 650 million allocated to support women and youth entrepreneurs is an inclusive strategy. We are also particularly thankful for the matching grant for industrial training to be administered by TalentCorp, which will help to ease the talent crunch among SMEs while allowing more students to gain practical experience.”