Zahid: Women entrepreneurs should get more financial support
The Deputy Prime Minister said this initiative is particularly crucial for women entrepreneurs, who face challenges in accessing financial capital.
'We should also align the Global Women's Empowerment Fund scheme with an export financing initiative, tailored to support high-potential women entrepreneurs. This fund should prioritise export certification, participation in international expos, global branding and logistics.
'The proposal to increase loan capital is justified.
'For instance, Amanah Ikhtiar Malaysia (AIM), where nearly 100% of borrowers are women, has maintained an impressively low non-performing loan (NPL) rate of just 0.1%,' he said.
Ahmad Zahid said this when launching the Women in Export Forum 2025, jointly organised by the Malaysia External Trade Development Corporation (Matrade) and the Malaysian Women and Family Affairs Organisation (Hawa) at Matrade yesterday, Bernama reported.
Also present were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Matrade chairman Datuk Seri Reezal Merican Naina Merican and Hawa chairman Tan Sri Shahrizat Abdul Jalil.
Ahmad Zahid, who is also Rural and Regional Development Minister, proposed the setting up of a Women Export Incubator – a one-stop centre designed to provide a comprehensive support ecosystem for women entrepreneurs aiming to enter the international market.
He emphasised that the incubator should offer export mentoring services, international certification training, co-working spaces and digital business clinics, with a particular focus on supporting women from rural areas and the B40 group.
'I also propose the 'Anugerah Wira Ekonomi Wanita' to recognise female figures who have made a significant impact in trade, technology, the halal industry and regional exports,' Ahmad Zahid said.
'This initiative will not only inspire enthusiasm, but also serve as a platform for economic diplomacy, enhancing Malaysia's global branding.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
a day ago
- The Sun
Malaysia needs strong commitment to maintain halal industry leadership
KUALA LUMPUR: A united approach is essential to preserve Malaysia's status as a world leader in the halal industry, according to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. He emphasised that coordinated efforts would boost the nation's halal economy, reinforce its international market position, and create broader advantages for citizens. Ahmad Zahid, who chairs the Malaysian Halal Industry Development Council, stated these priorities emerged during a meeting on aligning the national halal agenda to shape the sector's future. 'The goal is to keep Malaysia's halal policies, strategies, and execution globally competitive and up-to-date,' he said in a Facebook post. The session, led by Ahmad Zahid, included JAKIM director-general Datuk Dr Sirajuddin Suhaimee, Halal Affairs Coordinator Datin Paduka Hakimah Mohd Yusoff, and representatives from halal ecosystem agencies. Ahmad Zahid highlighted the necessity of inter-agency collaboration to synchronise and strengthen all initiatives. 'With collective resolve and teamwork, Malaysia's halal ecosystem will remain a national asset and an international benchmark,' he added. – Bernama
New Straits Times
2 days ago
- New Straits Times
Tengku Zafrul: Export frenzy to US, ahead of incoming tariffs
KUALA LUMPUR: Exports to the United States (US) reached RM111.59 billion from January to June this year, contributing 14.7 per cent of Malaysia's total exports during the period, said Investment, Trade and Industry Minister, Tengku Datuk Seri Zafrul Abdul Aziz. He said that exports to the US in June recorded year-on-year growth for the 18th consecutive month since 2023. "The sharp increase in exports during this period is largely attributed to front-loading activities by businesses as a mitigation measure to avoid higher operational costs once countervailing tariffs come into effect on Aug 1," he said in a written parliamentary reply. Zafrul added that from January to June, RM109.35 billion – or 98 per cent – of the total RM111.59 billion in exports to the US comprised manufactured goods. These included electrical and electronic (E&E) products, machinery, equipment and parts, optical and scientific instruments, rubber products, and wood-based items. "Of this, E&E products contributed 62.4 per cent of Malaysia's total exports to the US, increasing by 34.6 per cent to RM69.63 billion. "Meanwhile, machinery, equipment and parts – with a 4.8 per cent share – also grew by 25.4 per cent to RM5.4 billion. "The increase in exports of these two categories was driven by strong demand for electronic integrated circuits (ICs) and semiconductors, in line with the rapid development of artificial intelligence (AI) technologies, which have become a key focus of the global economy," he said. He was responding to a question from Lee Chuan How (PH–Ipoh Timor), who had inquired about export trends to the United States. Zafrul also said the value of two-way trade between Malaysia and the US reached RM394.91 billion in 2024, accounting for 11.3 per cent of Malaysia's total trade, which stood at RM2.88 trillion. Malaysia's exports to the United States amounted to RM199 billion – 13.2 per cent of the country's total exports of RM1.51 trillion – reflecting a 23.2 per cent increase compared to 2023 (RM161.27 billion). Meanwhile, exports of services to the US grew by 3.6 per cent to RM37.3 billion in 2024. "The main components of service exports were manufacturing services on physical inputs owned by others, other business services, and transport services. These collectively accounted for 72.4 per cent of Malaysia's total services exports to the US," he said. Zafrul also said noted that the Malaysia External Trade Development Corporation (Matrade) has implemented a strategy to diversify Malaysia's export markets to new and non-traditional destinations. Initiated in 2023, the strategy has resulted in increased exports to 12 newly targeted markets – Bangladesh, Kenya, Egypt, Costa Rica, Nigeria, Oman, Togo, Angola, Ethiopia, Algeria, Namibia, and Libya. "Malaysia's exports to these markets rose by 12.4 per cent to RM32.24 billion in 2024, compared to RM28.67 billion in 2023. "Matrade is also intensifying efforts to grow exports and maintain strong ties with traditional trade partners, while actively exploring opportunities in Central Asia, South Asia, West Asia, Africa, and Latin America. "This is being achieved through various strategic initiatives such as international trade exhibitions, export acceleration missions, business matching programmes, and enhanced use of the Madani Digital Trade (MDT) platform to improve the global visibility of Malaysian companies," he said. These initiatives, he added, aim to empower Malaysian exporters – particularly mid-tier companies (MTCs) and small and medium enterprises (SMEs) – to become more globally competitive and expand into international markets.
New Straits Times
2 days ago
- New Straits Times
Unresolved issues cloud Gig Workers Bill
KUALA LUMPUR: The delay in the tabling of the Gig Workers Bill has raised critical questions about its preparedness to address the complexities of the gig economy and its economic impact, experts said. The bill, which is aimed at regulating Malaysia's growing gig economy, has been delayed again for the third time. Initially scheduled for its first reading in Parliament on Aug 14 this year, the postponement follows earlier delays. Despite assurances from Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi and Human Resources Minister Steven Sim during the 'Sembang Santai Teh Tarik: Industri Gig' event on Aug 7, no official explanation has been provided, leaving gig workers and industry players frustrated. The bill, heralded as the first of its kind globally, aims to provide protections for gig workers while fostering a fair and inclusive economy. A cornerstone of the bill is the establishment of the Malaysian Gig Economy Commission, which will act as the sector's primary regulatory body. While the bill has received widespread support, particularly from e-hailing associations, stakeholders have raised concerns about unresolved issues. Child care services provider Kiddocare head of business development Rahman Hussin emphasised the need for a regulatory impact analysis before introducing new legislation. He also raised concerns about setting a minimum wage for gig workers, noting that defining minimum working hours could conflict with the flexible nature of gig work. "The essence of gig work is flexibility. Workers decide their own schedules, and imposing minimum hours could undermine this," Rahman said. The Malaysian Bar Council has also weighed in, recommending clearer provisions on Social Security Organisation (Socso) contributions for gig workers engaged across multiple platforms. They called for further clarification on the consultative council's powers, warning that limitations on competition and innovation could lead to higher service costs for consumers. The council, in a statement, also flagged the bill's strict prohibition on deductions from gig workers' incomes, tips and rewards, and urged flexibility for scenarios such as overcharging consumers or loans with platform providers. Additionally, it cautioned against regulatory overlaps between the Human Resource Ministry and Transport Ministry in regulating e-hailing and p-hailing drivers, which could create inconsistencies. The gig economy's rapid growth highlights the importance of addressing these concerns, exeprts said. Policymakers face challenges in balancing worker protections with platform providers' operational needs, they added. While the delay is a setback, experts argue that thorough legislation is necessary to avoid loopholes or unintended consequences. Economist specialising in Southeast Asian development Doris Liew told Business Times that a key concern of the gig worker bill is the risk of additional costs being transferred to consumers. She added that for drivers, stricter rules and the potential introduction of mandatory minimum working hours could further strain their already slim margins. "The delay in tabling the bill could be due to many reasons, such as parliamentary scheduling, or even how the public might react once the details are revealed. "Still, with more than 4,000 stakeholders already consulted, the first reading should not come as much of a surprise if it truly takes their views into account," she added. Liew pointed out that the larger issue is whether the country is truly ready to implement the bill. She highlighted that while the gig economy is now deeply embedded in daily life and the wider economy, it has long functioned without proper regulation. "This has left workers facing persistent problems, including weak workers protection, little social security and limited pathways for upward mobility. "Whether the first version of the bill can fix all these gaps is uncertain. But it is at least a step in the right direction that the government is finally moving to address them," Liew said. She emphasised that what is important now is ensuring policies are flexible enough to address real on-the-ground needs, rather than being tied to rigid rules that could soon become outdated. As Malaysia seeks to position itself as a global leader in gig economy regulation, the successful passage of the Gig Workers Bill must be approached with careful consideration and time, only then it could serve as a model for other nations, experts said. For now, they added, gig workers and industry players await updates, hopeful that the legislation will deliver the clarity and protections they need.
