National Entrepreneurship Policy 2030 to empower B40 segment, says minister

Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof speaks at a press conference during the launch of the National Entrepreneurship Policy at the KL Convention Centre, July 11, 2019. — Picture by Hari Anggara
Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof speaks at a press conference during the launch of the National Entrepreneurship Policy at the KL Convention Centre, July 11, 2019. — Picture by Hari Anggara

KUALA LUMPUR, July 11 — The newly launched National Entrepreneurship Policy 2030 (NEP 2030) is aimed at empowering the B40 group by inculcating a culture of entrepreneurship.

Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof said this is in line with the government’s aspiration to create one million jobs. 

“Following a rule of thumb, if we have 250,000 entrepreneurs, and each business has four employees, we can create one million jobs,” he told Bernama after the launch of the NEP 2030 today. 

He added that his ministry is constantly monitoring job creation based on its database and will continue to improvise from time to time. 

“Under NEP 2030, we want to push for innovations involving all industries by helping to provide a better business environment for all,” he said. 

As for attracting domestic direct investment, he said that it is important for local companies to see the potential of local innovations and help to commercialise them both locally and abroad. 

“I understand that there might be some red tape or long bureaucratic process, we are trying to ease it as we understand innovations move fast. If we don’t take the opportunity, we will lose out,” he said.

Redzuan added that the NEP 2030 is a dynamic policy that will be improvised from time to time, including through continuous engagement with all stakeholders. 

The NEP 2030, launched by Prime Minister Tun Dr Mahathir Mohamad, outlines seven core thrusts, including generating new growth sectors, improving the labour market, and enhancing social wellbeing and social capital. 

Meanwhile, in terms of innovation and usage related to aerial vehicles and autonomous drones, Redzuan said his ministry has initiated moves to draft a law to facilitate such innovations, involving various stakeholders including the aerospace and agriculture sectors.

“The scope is wide. We need to ensure that all concerns are addressed before going through with it,” he said. — Bernama

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