KUALA LUMPUR, Dec 8 ― Putrajaya will start certifying social enterprises beginning next year in a bid to encourage social enterprise initiatives that can benefit the bottom 40 per cent (B40) income group.

Prime Minister Datuk Seri Najib Razak announced today that procurement priority will also be given to social enterprises, and that initiatives would begin in June next year.

"These will allow better recognition for the nascent social enterprise sector here in Malaysia, and will provide benefits and incentives for social enterprises,” he said while launching the Global Entreprenurship Community and Malaysia Commercialisation Year Summit here today.

Last year, Najib set a target of having 1,000 social enterprises in Malaysia by the year 2018.

"The certification program will benefit at least 500,000 B40 individuals through the work of these social enterprises,” he said.

Treasury Secretary General Tan Sri Mohd Irwan Serigar Abdullah later said that the certification program will also help social enterprises when it comes to dealing with banks and venture capitalists, thus easing their search for funding.

The certification will be provided by the Malaysian Global Innovation and Creativity Centre (MaGIC), he said.