KUCHING: The Sarawak Economic Development Corporation (SEDC) has implemented various ministry initiatives involving a total allocation of RM6 million, benefiting 579 entrepreneurs in 2025.

Deputy Minister for International Trade, Industry and Investment Datuk Dr Malcolm Mussen Lamoh said the initiatives included 327 recipients of the Technical and Vocational Entrepreneur Grant involving assistance worth RM2.5 million, and 218 recipients under the Graduate Towards Entrepreneurship Grant with assistance amounting to RM1.9 million.

“This also includes 26 recipients under the Sarawak Micro Credit Scheme involving assistance worth RM660,000, and eight recipients under the Small and Medium Industry Loan Scheme with assistance valued at RM980,000.

“In addition, SEDC has also implemented financial funding programmes under the Sarawak Financial Secretary’s Office involving an allocation of RM8.4 million for 65 entrepreneurs in the same year,” he explained.

He said this when responding to a question from Lingga Assemblywoman Dayang Noorazah Awang Sohor during the 19th Sarawak Legislative Assembly (DUN) sitting on Friday.

Datuk Dr Malcolm added that the implementation of these programmes has also benefited 41 recipients from the Sri Aman Division, including entrepreneurs in the Lingga District.

He further said that based on data from the Department of Statistics Malaysia, Sarawak recorded a low closure rate of 3.2 per cent and a five-year survival rate for enterprises established in 2019.

“For businesses that are still operating in 2024, the rate stands at 77.3 per cent. This shows that the initiatives implemented by the Sarawak Government are effective,” he said. -UKASnews

Translator: Uilson Ng