SEDC, Bank Rakyat to jointly promote entrepreneurship 

Noh deliver his speech. Photo: Mohd Alif Noni

KUCHING: Sarawak Economic Development Corporation (SEDC) and Bank Kerjasama Rakyat Malaysia Berhad (Bank Rakyat) signed a memorandum of understanding (MoU) on Friday (Jan 28) to promote entrepreneur development programmes in the state.

The programme will include joint promotions, development, enhancement, and capacity building among local entrepreneurs.

The signing at Wisma Bapa Malaysia was witnessed by Chief Minister Datuk Patinggi Abang Johari Tun Openg and Entrepreneur and Cooperative Development Minister Tan Sri Noh Omar.

Bank Rakyat was represented by its chief executive officer Datuk Syed Abdul Aziz Syed Hassan and SEDC was represented by its chairman Tan Sri Abdul Aziz Husain.

Commenting on the MoU, Abdul Aziz said the synergy from the partnership and alliance would “contribute to high value creation to both partners and enable all parties to scale much quicker, promote innovative solutions for our generic clients as well as stakeholders”.

“Our strategic alliance will also enable us to explore and enter new business opportunities via pooling valuable expertise and optimise various resources that we have.

“Thus, the MoU will signify our joint commitment in moving forward together with the local entrepreneurs, start-up companies and small medium enterprises (SMEs) in Sarawak,” he said.

He said both parties had agreed to participate in various programmes which also included identifying Shariah compliant business opportunities and market access for local entrepreneurs.

“As such, SEDC shall play its part in recommending to prospective local Bumiputera entrepreneurs under its development programmes for Bank Rakyat’s consideration for training, development programmes, and relevant assistance to be offered by the bank.

“Similarly, SEDC will also assist Bank Rakyat to channel prospective local Bumiputera entrepreneurs who require working capital for the bank’s consideration for the provision of fiscal and financial support/assistance via BR Flex-I scheme,” he said.

Abdul Aziz said both parties would jointly explore the relevant scope of collaboration and propose structured financing schemes to accommodate the requirement of the entrepreneurs who participated in development projects under SEDC.

“The parties will co-organise conferences, seminars, roadshows, talks, and other related marketing activities and participate in joint training and programmes for the development and enhancement of Bumiputera entrepreneurs under the respective parties.

“Such capacity building programmes are for the purpose of Bumiputera entrepreneur development as well as financial assistance that may be required by the existing or prospective Bumiputera entrepreneurs,” he said.

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