KAYU KAYAN: MTIB committed to continue Bumiputera economic empowerment agenda in timber industry
KUALA LUMPUR (April 16): The Malaysian Timber Industry Board is committed to continue the Bumiputera economic empowerment agenda as its national mission in a continuous effort to develop the timber industry in the country.
In a statement on Saturday (April 16), it said MTIB is always proactive in implementing various activities to strengthen the position of Bumiputera entrepreneurs to be able to compete and be competitive in the local market as well as internationally.
Therefore, it said MTIB has organised the MTIB Director General’s Dialogue session with Bumiputera Entrepreneurs Year 2022 in Tawau, Sabah on April 15 to explain various programmes that could benefit Bumiputera entrepreneurs.
It said the objective of the programme is to assist Bumiputera entrepreneurs in increasing the production capacity of products in factories that could lead to improved annual sales performance.
“This programme has been conducted since 2015 and until now, a total of 121 Bumiputera entrepreneurs have benefited from this programme.
“Among the high-tech woodworking machines being lent are CNC 3 Axis, CNC Boring, Automatic Edge Bander and Panel Saw Optimiser,” it said.
MTIB said it also provided the Raw Material Support Programme as an interest-free loan to enable Bumiputera entrepreneurs to procure wood raw materials in the manufacture of furniture and high value-added products.
“This financing is given to Bumiputera entrepreneurs who have a work contract that has been finalised and still in force,” it said.
Currently, the Bumiputera entrepreneurs contribute 1% of the total export value for 2021.
In 2021, the timber industry in Sabah contributed RM1.1 billion or 5% of the total export value, an increase of 25% compared to 2020 despite the world still experiencing the Covid-19 pandemic.
There are about 100 Bumiputera entrepreneurs who carry out wood-based activities in Sabah
https://www.theedgemarkets.com/article/mtib-committed-continue-bumiputera-economic-empowerment-agenda-timber-industry
Sumber: The Edge Markets
