SME Corp. Malaysia and the Companies Commission of Malaysia (SSM) have signed a Memorandum of Understanding (MoU) that will enhance the effectiveness of the implementation of the Tunas Usahawan Belia Bumiputera (TUBE) Programme. TUBE is a programme that aims to foster entrepreneurship and encourage Bumiputera youths aged between 18 and 30, to venture into business.
Through this MoU, the impact and success of the TUBE Programme in creating new entrepreneurs and its effectiveness in increasing the competitiveness and resilience of businesses can be measured more effectively. This strategic collaboration allows for the monitoring of TUBE Alumni's business status and continuing efforts to facilitate business registration of participants in the previous MoU, which was signed in 2017.
The signing ceremony, held at the SME Corp. Malaysia Headquarters, Platinum Sentral, Kuala Lumpur, further strengthened the cooperation between the two organisations towards facilitating a more conducive ecosystem and business environment, particularly business registration. The MoU, signed by Mr. Rizal bin Dato’ Nainy, Chief Executive Officer of SME Corp. Malaysia and Datuk Nor Azimah Abdul Aziz, Chief Executive Officer of SSM, will also enable an increase in business registration among Micro, Small and Medium Enterprises (MSMEs) and promote business formalisation, thus increasing MSMEs' contribution to the country's economy.
Commenting on the MoU, Mr. Rizal said SME Corp. Malaysia views this strategic partnership with SSM as crucial in assessing the impact or effectiveness of the TUBE programme, which has successfully trained a total of 8,543 Bumiputera youth entrepreneurs, with a total business grant disbursed amounting to RM120.96 million.
"In addition, I hope that the scope of this collaboration can be expanded to include other initiatives by SME Corp. Malaysia, mainly regarding the registration of MSMEs via the MSME Status, which is the basic criteria in determining eligibility for all programmes under SME Corp. Malaysia", added Mr. Rizal.
Meanwhile, Datuk Nor Azimah stated that the cooperation between SSM and SME Corp. Malaysia is expected to inculcate an entrepreneurial culture while encouraging Bumiputera youth to venture into business.
"SSM has implemented various initiatives to boost the business landscape in the country, including implementing the Pendaftaran Perniagaan Percuma Scheme (SPPP) and 1 OKU 1 Perniagaan (S1O1P) Scheme. Through this MoU, SSM will extend these initiatives to Bumiputera youth participating in the TUBE Programme. This strategic collaboration is an important step in ensuring that the business ecosystem in Malaysia is more inclusive and dynamic", she said.--The Edge Malaysia
