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Grants For SMEs To Be Converted Into Soft Loans
KUALA LUMPUR, June 1 (Bernama) -- Grants previously given to small-and medium-enterpriseswill be converted into soft loans, Prime Minister Datuk Seri Mohd Najib TunRazak announced Tuesday.
He said the move would reduce dependency on governmentgrants and promote accountability.
"Successful SMEs are able to repay much faster thanscheduled," he told reporters here after touring the SMIDEX SME InnovationExhibition.
Najib, who is also Finance Minister, said SMEs wouldcontinue to receive loans, venture capital and financial support for trainingand international promotions.
Earlier, in his opening speech, he said under the 10thMalaysia Plan, focus would be placed on developing SMEs which are innovative,competititve and resilient.
"They can contribute more significantly to theeconomy," he said, adding that implementation would be carried out throughstrengthening the enabling infrastructure, building capacity and capability and,enhancing access to financing.
Najib also said SMEs which clinched awards have showntheir research and development capabilities in innovation andcommercialisation.
SME Corporation Malaysia is organising the SMIDEX 2010 -SME Innovation Showcase, between June 1 and 3, at the Kuala LumpurConvention Centre-- BERNAMA
