PUTRAJAYA — The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has welcomed the Prime Minister’s announcement to ease cost pressures faced by micro, small and medium enterprises (MSMEs) following the global energy crisis.
The initiatives announced, namely the RM5 billion financing guarantee for affected MSMEs through the Credit Guarantee Corporation (CGC), e-invoice flexibility and targeted tax exemptions, are timely in ensuring business continuity and protecting employment.
During this challenging period, KUSKOP is also implementing the PowerUp 10K initiative with a commitment to provide up to RM15 billion in financing to the market, targeting the scaling up of 10,000 MSME companies in line with the MADANI Government’s spirit of empowering the people’s economy.
“This effort aims to help MSMEs not only remain resilient but also continue to grow and seize business opportunities amid global geopolitical uncertainties and rising operating costs,” said Entrepreneur and Cooperative Development Minister Steven Sim Chee Keong in a statement today.
He said KUSKOP will continue to strengthen this effort through the ABCD approach, namely Productivity Shift, Simplified Bureaucracy, Capital Access and Market Access Capability.
“The ministry will also continue to work closely with stakeholders, particularly industry players and financial institutions, to ensure every support is delivered quickly, effectively and has a direct impact on entrepreneurs on the ground,” he added.
