The government of Malaysia recently committed MYR 25 million (USD 6.4 million) to a microcredit program intended to help Chinese-Malaysian business owners to “evolve their businesses into tech-savvy outfits.” The program, called the Micro-Credit E-Commerce Scheme, is targeting entrepreneurs in Malaysia who are aged 18 to 45 via approximately 40 chambers of commerce and other associations that primarily engage Chinese-Malaysians.
Prime Minister Najib Razak reportedly described the program as intended “to transform traditional [small and medium-sized enterprises] SMEs so that they can remain competitive and relevant, and help our rural products go global” as well as “to improve living standards for youths, both in terms of income and quality of life.”
Sources and Additional Resources
Tech Wire Asia article
http://techwireasia.com/2018/04/malaysia-rolls-out-6-4-m-microcredit-scheme-for-young-chinese-smes/
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