More funds needed to develop SME sector

Kota Kinabalu: The Sabah Industrial Development Ministry hopes to be allocated more funds to develop and empower small and medium enterprises (SMEs) in the State.

Its Minister Datuk Dr Joachim Gunsalam, who is also Deputy Chief Minister, said his Ministry has been given specific responsibilities to develop the SME sector which would require increased funding to effectively carry out its roles and increase the number of viable entrepreneurs. 

“Under the 2021 State Budget, my Ministry has been allocated a total of RM30 million to assist SMEs in facing challenges following the implementation of the Movement Control Order (MCO) due to the Covid-19 pandemic.

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“Of this, RM10 million is to help entrepreneurs develop their businesses and the remaining RM20 million to assist micro and cottage entrepreneurs,” he said in his winding-up speech for the Ministry at the recent State Legislative Assembly sitting, here.

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