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PUTRAJAYA: The Ministry of Entrepreneur Development will set up a wholesale hub for Bumiputera entrepreneurs in Kota Baru, Kelantan by year–end that is expected to benefit some 4,000 entrepreneurs to expand their businesses.
Its minister Datuk Seri Mohd Redzuan Yusof said the hub would serve as a centre for entrepreneurs under the National Entrepreneur Group Economic Fund (Tekun Nasional) and other entrepreneurs to market their products.
“This hub will support entrepreneurs development in terms of expanding their market, as well as to scale up their businesses which, in turn, would boost the local economy.
“Many of our entrepreneurs are still looking at suitable locations to market their products, especially at the supermarkets. This way will give them a choice to market their products at lower prices compared with other places,” he told reporters here today.
Earlier, he had witnessed an exchange of memorandum of understanding on the establishment of Kelantan Bumiputera Entrepreneur Wholesale Hub between Tekun Nasional and Liziz Standaco Sdn Bhd (LSSB).
Tekun Nasional was represented by its chairman Datuk Seri Muhamad Suparadi Md Noor while LSSB by its managing director Tan Sri Guok Nguong Peng.
Elaborating further, Mohd Redzuan said the hub would also home relevant government agencies.
He also did not rule out the possibility of establishing a similar hub in other states.
Meanwhile, Muhamad Suparadi said the hub would be housed in a 10–storey building.
“Tekun Nasional has signed a 15–year hire purchase agreement with LSSB, the owner of the building, to enable the entrepreneurs involved to eventually own their rented lot after a certain period of time.
“It means Tekun Nasional enters into a hire purchase agreement with LSSB to own the building and later will use the same method with the entrepreneurs operating at the hub so they too can own the business lot they have been renting,” he explained. — Bernama
