KUCHING: More youth involvement in entrepreneurship will further empower Sarawak’s economy which is heading towards digitisation.

Hence the reason why the state government is giving them the opportunity via the Youth Entrepreneur Setup (YES) and Financing Programme.

“The main objective of this programme is to disseminate information regarding microfinance loan assistance programmes offered by Bank Rakyat for micro traders, hawkers, and entrepreneurs especially the youth,” said Deputy Minister of Youth, Sports, and Entrepreneur Development Dr Ripin Lamat.

He said this in his welcoming address during the launch of the Youth Entrepreneur Setup (YES) and Financing at Dewan Suarah here on Saturday.

Ripin disclosed that Bank Rakyat has allocated RM50 million to help small and medium enterprises (SMEs) as well as micro entrepreneurs nationwide.

As such, he expressed hope for micro and youth entrepreneurs in Sarawak to take the opportunity and go for the assistance.

“We cannot deny that the COVID-19 has had many negative impacts on our country’s economy as well as on hawkers and small traders including micro and informal youth entrepreneurs.

“Many businesses had to close or scale down while some had to search for other business alternatives to bounce back,” he said.

With the transition into endemicity, Ripin stated that youth should explore the field of business as well as make entrepreneurship a career choice and source of income.