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Indian entrepreneurs to benefit from RM100 million allocation

by | Jan 16, 2025 | Business, Local

Tekun Nasional is to channel a RM100 million allocation from the government and its own funds to enhance the economic empowerment agenda for the Indian community to benefit around 5,000 Indian entrepreneurs.

The Entrepreneur and Cooperative Development Ministry outlined that RM50 million would be channelled through the Spumi Goes Big financing scheme while the other RM50 million goes towards the Indian Entrepreneur Development Scheme.

Under Budget 2025, the Indian Entrepreneur Development Scheme was allocated RM30 million and Tekun Nasional, using RM70 million in internal funds, is organising its biggest investment drive for Indians since the year 2008.

Under the scheme, Tekun offers loans of between RM1,000 and RM50,000 to eligible applicants while Spumi Goes Big provides funds of between RM50,000 and RM100,000 within a two week approval time.

Since this initiative to help Indian businessmen in the year 2008 was launched, over RM500 million has been disbursed to 26,804 Indian entrepreneurs running businesses nationwide, and if possible there will be an expansion on funding in the near future.

The ministry stated that this initiative demonstrates the sincerity of the Anwar government, in line with the inclusivity of the Madani concept, to ensure no Malaysian is left behind as the nation strives for economic progress.

-THE MALAYSIA VOICE

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