Kuala lumpur: The Malaysian Investment Development Authority (MIDA) and Hong Leong Islamic Bank Bhd (HLB Islamic) today organised a special forum aimed at enhancing the ecosystem and opportunities for small and medium enterprise (SME) entrepreneurs in the Northern Region.
According to BERNAMA News Agency, the forum, themed 'Strengthening Bumiputera Entrepreneurs in the Northern Region: Policy Perspectives and Current Market Trends,' attracted approximately 250 SME entrepreneurs, including representatives from bumiputera companies across Kedah, Penang, Perak, and Perlis. The event was designed to foster practical partnerships and strategic initiatives from various government agencies and institutions to drive the growth of local entrepreneurs.
Key highlights of the forum included HLB Islamic's initiatives such as BizDagang and Greening Halal Business, which aim to help entrepreneurs adopt shariah-compliant green business models. The Malaysia External Trade Development Corporation contributed by sharing strategies for accessing international markets and enhancing trade management.
During the forum, Bank Negara Malaysia introduced the local currency transaction framework (LCTF), while Syarikat Jaminan Pembiayaan Perniagaan Bhd outlined the government guarantee scheme (GGSM4) to bolster access to credit. MIDA presented the new incentive framework (NIF) and the Malaysia-Singapore third-country business development fund (MSBDF), with the Inland Revenue Board providing insights on implementing e-Invoices in current business operations.
A significant feature of the forum was a panel discussion titled 'Driving Bumiputera Champions: Access and Opportunities for Financing, Market Access, and Global Supply Chain,' which included representatives from HLB Islamic, the Bumiputera Agenda Steering Unit, MARA, SME Corp Malaysia, and Venture Tech. The panel focused on strategies to enhance the competitiveness of bumiputera entrepreneurs.
MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid emphasized the importance of resilient local companies that can compete globally. He highlighted MIDA's commitment to initiatives such as the Enterprise Growth Platform (EGP) to empower local entrepreneurs and connect them with a robust support ecosystem, expanding access to financing, global supply chains, and high-value investment opportunities.
Sikh Shamsul Ibrahim also addressed the perception that foreign investment is prioritized, asserting that domestic investment is the main driver of the country's economy. He stated that MIDA is focused on empowering local companies in the high-tech sector and creating opportunities for them to become strategic supplier partners to multinational companies.
HLB Islamic chief executive officer Dafinah Ahmed Hilmi reiterated their commitment to supporting local entrepreneurs, particularly in the Northern Region. She emphasized the importance of preparing entrepreneurs to enter the global supply chain through Shariah-compliant financial support and strategic guidance.
Kedah Industry, Investment, Higher Education, Science, Technology and Innovation Committee chairman Dr. Haim Hilman Abdullah, who officiated the forum, expressed the state government's dedication to strengthening the bumiputera entrepreneurial ecosystem. He highlighted the collaboration between the state government, MIDA, and HLB Islamic in providing comprehensive access to financing, markets, and strategic support.
The forum also featured business clinic sessions where entrepreneurs received direct advisory services from participating agencies.