IPOH, Feb 23 — The government has targeted to boost the exports of Bumiputera small and medium enterprises (SMEs) from 18 per cent to 25 per cent by 2020 under the Bumiputera Exporters Promotion Programme.

Deputy International Trade and Industry Minister Datuk Ahmad Maslan said the programme, which was being implemented by SME Corporation Malaysia in collaboration with Majlis Amanah Rakyat, provided grants up to RM500,000 and loans up to RM5 million to eligible SMEs.

He said in order to be considered for the programme, an SME must be a registered company under the Companies Act 1965, operating on a licensed premise for at least two years, and has made-in-Malaysia products and services.

The grants are provided for the setting up of operational offices, as well as for promotion and marketing activities, brand development and market research abroad, he told reporters after visiting baby formula producer My Suffy’s facilities here today.

Ahmad said the Malaysia External Trade Development Corporation also extended various assistance and entrepreneurship programmes to Bumiputera entrepreneurs to help them penetrate the export market.

Meanwhile, Ahmad said 129 SME projects in Perak had received grants worth RM9.25 million under Bumiputera Enterprise Enhancement Programme.

"The number of SME projects approved in the state this year rose to 18 with grants totalling RM1.4 million,” he said, adding that these included projects that would help Bumiputera entrepreneurs increase their capacity to penetrate overseas markets. — Bernama