Selangor Journal: SMEs urged to benefit from Selangor Advance to strengthen cash flow
SHAH ALAM, June 15 — Small and medium enterprises (SME) in Selangor are urged to benefit from the financing scheme offered by the state government via Selangor Advance to improve the cash flow of businesses affected by Covid-19.
State executive councillor for investment Dato’ Teng Chang Khim said he hopes to see the initiative would be able to help the SME sector in improving the efficiency of their business operations while facing a challenging period.
“Selangor Advance is an innovative programme and Selangor has become the most productive state in helping the SMEs even though we are not rich in reserves.
“We are using the limited resources we have as best we could in helping the business sector especially the SMEs,” he told SelangorKini when contacted yesterday.
Teng said the Federal government should emulate the state’s efforts by introducing a similar initiative to boost the competitiveness of SMEs.
Selangor Advance was introduced on June 22, 2020, as a financing scheme to SMEs, especially contractors and service providers, in facing the post-Covid-19 economic challenges.
On Wednesday, Menteri Besar Amirudin Shari had announced a RM200 million additional fund allocated to the financing scheme.
The allocation is included in the Kita Selangor Package 2.0 worth RM551.56 million, which was announced to help those impacted by the enforced movement control order.
Themed ‘Moving Together towards Success’ (Bersama-sama Menuju Kejayaan), the package, which is part of the state’s continuous effort to cushion the social and economic impact from the Covid-19 pandemic, consists of three strategies covering 25 programmes and is said to benefit 1.6 million people in the state.