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He said it gives focus to the development of an effective regulatory and governance framework to ensure social enterprises operate with responsibility and accountability, apart from building the confidence of the people and the private sector.
“To ensure the realisation of its objectives and policy targets, SEMy2030 has developed five strategic thrusts, 20 strategies and 45 initiatives,” he said when launching SEMy2030 here today. Also present was entrepreneur development and cooperatives minister Noh Omar.
He said this included providing more structured training on the adaptation of technology and digitalisation, widening access to financing and financial support, and providing access to the domestic and international markets.
Ismail said the government would also review and upgrade the framework for registration and accreditation of existing social enterprises to enable them to get wider access to aid and more opportunities to grow.
Meanwhile, Noh said private companies participating in efforts to empower social enterprises under SEMy2030 would be given income tax exemption for three years.
“The private companies, for example, can offer villagers to produce handmade products. But to enable these companies to get an exemption, we will first assess the company.”
Noh said these target groups could be the B40 group, single mothers in the Orang Asli community, ex-prisoners or ex-drug addicts.
He said through SEMy2030, the government hoped to increase the country’s social enterprise revenue to RM2.6 billion by 2030. It is currently about RM100 million.
Noh also hoped SEMy2030 can offer 92,000 jobs to locals by creating 10,000 social enterprises. Currently, there are only 414 social enterprise companies in the country and they have provided 3,500 jobs.
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