MED: Over 5,000 local vendors targeted for VIPP

08 Nov 2019 / 17:08 H.

PUTRAJAYA: The Entrepreneur Development Ministry (MED) is targeting 5,000 visitors at its first Vendor Innovation Partnership Programme (VIPP).

The programme, which will be held at the Kuala Lumpur Convention Centre from Nov 12 to 13, aims to strengthen the cooperation and implementation of Bumiputera Small Business Enterprise (SME) entrepreneurs, especially among vendors.

MED chief secretary Datuk Wan Suraya Wan Mohd Radzi said the VIPP is in line with the National Entrepreneurship Policy 2030 (DKN 2030), in support of developing Malaysia to become a leading entrepreneurial country by 2030.

She said last year, a total of 1,094 vendor companies received a turnover of RM5,312 billion.

“The uniqueness of the VIPP is the involvement of anchor companies, including key industry players who have the potential to become strategic partners of the Vendor Development Programme (PPV) or new anchor companies - major retail store used to drive business to smaller retailers - with vendors to work together in one programme,“ she said during a press conference announcing the VIPP in Putrajaya Lake Club today.

“Through this programme, MED will provide a platform for anchor companies and vendors to grow cross-cutting businesses, which are comprehensive and cover various stages of the supply chain.

“The VIPP will be held annually and allow these anchor companies and vendors to showcase their achievements attained throughout the implementation phase under the PPV,“ said Wan Suraya.

She said, among the activities are knowledge sharing sessions on business, entrepreneurial and training talks, financing clinics, and over 500 business matching sessions, involving engagement with 21 speakers and 16 mega-booth anchor companies.

“14 vendors nationwide who have successfully expanded their businesses to reach global levels in 2018 will be celebrated at the VIPP Aspiration Night.”

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