KUALA LUMPUR: The government has been urged to increase funding for entrepreneurship-related agencies to provide the public with more opportunities in the business sector.
Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said people's participation in entrepreneurship would not only boost their income, but also support the country's economic development.
"In addition to educational assistance, entrepreneurship needs to be prioritised.
"For instance, agencies such as Amanah Ikhtiar Malaysia (AIM), the National Entrepreneurial Group Economic Fund (Tekun Nasional) and Majlis Amanah Rakyat (Mara) play crucial roles in this sector.
"Specific funding is required to encourage entrepreneurship, even though the success rate may only be 30 or 40 per cent.
"Nevertheless, entrepreneurship can create numerous job opportunities," he said, as quoted by Buletin TV3, after launching the Women Empowerment Programme at the Hiliran Ampang people's housing project.
Johari, who is also the Titiwangsa member of parliament, said the initiative aims to empower women in entrepreneurship and was organised by Mara in 48 locations, including in the constituency.
"This programme is significant, as entrepreneurs act as indirect agents of economic development.
."They can create many job opportunities and assist the government in eradicating poverty.
"Poverty can be addressed by the government, but not indefinitely.
"Therefore, we provide this entrepreneurship training to enable participants to start small businesses as an additional source of income."
When asked about the upcoming 2025 Budget scheduled for Oct 18, he said his ministry would continue to prioritise the allocation of funds for oil palm replanting, particularly for smallholders.
"Many smallholders have old trees that are over 20 years old, and the yield has decreased.
"If they can replant (oil palm), their income will be sustained.
"From the industry's perspective, representatives have approached the ministry to raise concerns about whether the government could review the windfall profit levies on the palm oil sector," he said.