Redzuan: RM10m allocation for halal industry advocacy should not be divided - New Straits Times

Redzuan: RM10m allocation for halal industry advocacy should not be divided - New Straits Times

KUALA LUMPUR: The Entrepreneur Development Ministry (MED) is in discussion with Finance Minister Lim Guan Eng on how to spend the RM10 million allocation for promotion of halal products under the 2020 Budget.

Its minister Datuk Seri Mohd Redzuan Yusof said his ministry would also work with other ministries that had received allocation regarding entrepreneur development to maximise its impact.

“We understand that we are not like the education ministry which received more than RM60 billion budget allocation because it needs to build and repair schools. MED only develops entrepreneurship, but the allocation should not be divided.

“There is a big halal market potential globally and RM10 million is not enough. We can produce and promote our halal products around the world, but that requires a much bigger allocation.

“At the moment, we will measure what we have and come out with an implementation plan. We will work across ministries,” he told reporters after closing the 2019 National Student Cooperative Empowerment Convention here today.

In the 2020 Budget, MED received an allocation of RM10 million for advisory services and halal certification awareness programmes, halal product development as well as providing a platform for market participants to compete in the US$3 trillion (approximately RM12.56 trillion) international halal markets.

Meanwhile, Redzuan said the convention would empower students' cooperatives by strengthening their potential and role in the context of social economic development.

“Among the active student cooperatives are Universiti Teknologi Mara (UiTM), Universiti Malaysia Terengganu (UMT), Sultan Zainal Abidin University (UniSZA), Universiti Sains Malaysia (USM), Universiti Utara Malaysia (UUM) and Universiti Putra Malaysia (UPM).

“Based on the records provided by the Cooperative Commission of Malaysia (SKM), as of Dec 31 last year, only 45 students’ cooperatives are registered with the commission with a membership of 1,432 and RM1.1 million in revenue.

"In order to realise the agenda of empowering student entrepreneurship, MED needs the support and cooperation of all parties including universities and industry players.

“This is important as statistics showed that seven out of 10 graduates are facing difficulties to get a job. One of the reasons cited is they fail to meet the market expectation. Hence, by inculcating entrepreneurship values in them may help to make them more marketable,” he said.

The three-day convention that started on Friday was a new initiative to empower students’ cooperatives across the country.

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2019-10-13 09:56:00Z
https://www.nst.com.my/news/nation/2019/10/529554/redzuan-rm10m-allocation-halal-industry-advocacy-should-not-be-divided
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