Federation lauds initiative to introduce special fund

KUCHING: Sarawak Business Federation (SBF) lauded the state government’s effort and initiative to introduce a special assistance fund in the 2022 State Budget, namely the Bumiputera Business Empowerment Fund and Business Recovery Assistance Fund.

The funds, which was announced by the Chief Minister Datuk Patinggi Abang Johari Tun Openg last Tuesday (Oct 12), was aimed to support and empower local businesses in tiding through the pandemic situation in Sarawak.

“SBF is particularly grateful to the state government for establishing the Business Recovery Assistance Fund, a one-off special grant of RM20 million that will be utilised to assist SBF and its 16 affiliates to organise capacity-building and enterprise development programmes for its members.

“The initiative signifies an invaluable recognition awarded to SBF as the apex organisation representing all of Sarawak’s major chambers of commerce and trade guilds,” SBF said in a statement on Wednesday.

The federation also thanked the state government for its ongoing efforts to provide direct and indirect aid totalling RM285.47 million under the Sarawakku Sayang Special Assistance (BKSS) 8.0 package to help the people and businesses cope with the pandemic’s adverse repercussions.

“SBF believes that the 2022 State Budget will contribute to the creation of a conducive environment for economic recovery and sustainable growth.

“SBF also thinks that it (state budget) is a business and people-friendly budget that has the potential to help the businesses remain resilient, open up additional business and job opportunities apart from advancing the state toward becoming a high-income economy by the year 2030.