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KUALA LUMPUR, Oct 30 — The government will introduce a new policy that will give priority to local products and further increase the involvement of local entrepreneurs.

Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof said the new policy was approved at the National Development Council (MPN) and accepted by the ministry.

“However, our country is still lagging behind because it has not reached the required percentage as it tends to use foreign products. So the introduction of the new policy will further enhance the involvement of local entrepreneurs and contribute to the development of the country’s economy,” he told reporters after the introduction session of a locally designed electric bus prototype EBIM (Elektrik Bas Inovasi Malaysia) produced by Sync R&D Sdn Bhd, here today.

Earlier, he also spent 15 minutes enjoying a ride on EBIM around Kuala Lumpur.

“Previously, we had this kind of policy but the new approved policy is expected to help more people especially young entrepreneurs.

“On the ministry’s side, we have a variety of ways and programmes that help them to increase the output comparable to other countries and make them more competitive,” he said.

Commenting on the use of electric buses, Mohd Redzuan said the ministry had always welcomed and encouraged local expertise in producing various innovations.

“Whenever someone brings something new to us, of course we provide opportunities like this electric bus innovation that showcases the ability of local people to produce technologies comparable to international standards.

“In addition, they must also look at the key elements of the marketing network, whether it is marketable and competitive as well as the readiness of our people. For the ministry, innovations such as electric buses will help push our country into the era of modernisation,” he said.

Source: https://www.malaymail.com/news/money/2019/10/30/govt-to-introduce-new-policy-to-help-local-entrepreneurs/1805212