The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) welcome the Ministry of Entrepreneur and Cooperatives Development (KUSKOP)’s initiative to double the initial RM50 million soft loans fund to RM100 million to strengthen financial access for Chinese micro, small and medium enterprises (MSMEs). This marks a breakthrough in tailoring an inclusive financial support for all Malaysians, in tandem with the principles of MADANI.

President of ACCCIM, Datuk Ng Yih Pyng said that this soft loan fund will bridge the financing gap for underserved, and viable MSME businesses, focusing on providing affordable, accessible, and often non-collateralized financing, especially for businesses that are facing financial constraints in boosting their cash flow, upgrading technology, and expanding their business

He urges the trade associations and chambers to encourage their members to actively apply for available assistance. ACCCIM will work with the KUSKOP to ensure that business owners are aware of and can easily access the financial funds. The chamber can act as an intermediary, disseminating information and conducting outreach for this fund; helps members navigate the fund’s application processes; and works with the Ministry to tailor financial support to the specific needs of MSMEs.

As SMEs are under increasing pressure to improve productivity and adopt tech- nology to remain competitive in a rapidly evolving and complex business landscape, ACCCIM hopes that the Government will continue to provide targeted assistance programmes and implement capacity building development for MSMEs.

Finally, ACCCIM stresses the need for effective execution, including ease of application and approval processes to expedite the disbursement of funds to MSMEs.