A sum of RM25 million will be channelled into the E-commerce Micro Credit scheme for the benefit of young Chinese entrepreneurs between the ages of 18 to 45, says Prime Minister Datuk Seri Najib Tun Razak.
He said the scheme should be accessible to any Malaysian Chinese who wants to participate in the digital transformation journey.
“So, let me urge Chinese youths and small and medium enterprises (SMEs) to take this golden opportunity to make your own digital transformation a success, and to play the fullest part in making our Transformasi Nasional 2050 (TN50) a reality,” he said during the launch of the Micro Credit E-Commerce scheme here today.
The prime minister also said the scheme would be able to achieve “fast results” in at least three key areas which would include nurturing ‘techno-preneurship’ among young people and to improve living standards for youths, both in terms of income and quality of life.
“Thirdly, it will help transform traditional SMEs to remain competitive and relevant, and assist our rural products go global,” Najib added.
Meanwhile, Najib said the E-commerce Micro Credit scheme would offer efficient yet very affordable financing facility to assist young Chinese entrepreneurs not only to ride the wave of digital transformation, but also to help traditional Chinese SMEs transform their business with digital technologies.
A personal computer or mobile phone can connect buyers and sellers online, from across the continents, integrating them into new global markets, he said, adding that the technology transformation not only benefited young people and SMEs in urban areas but also allowed youths and entrepreneurs in rural areas to start or expand their local businesses and ventures abroad.
He said the government fully recognised the importance of e-commerce and digitalisation for the future with the establishment of the Digital Free Trade Zone, the world’s first outside of China, which aimed to capitalise on the exponential growth of the Internet economy and cross-broader e-commerce.
It only officially started last November, but over 2,000 SMEs have already registered to take advantage of the remarkable opportunities this platform offers, he added.
On another note, the prime minister also said there were others who had uncosted plans that would leave a gaping hole in the country’s public finances.
They make all sorts of fanciful promises, but they have already admitted they would not be able to fulfil them, he said, adding that the government, on the other hand, had a plan for Malaysia’s economic transformation.
Najib also said it had always been central to the government’s decision-making that the country’s growth is both sustainable and inclusive.