KUALA LUMPUR: The Entrepreneur and Cooperatives Development Ministry through the Vendor Development Programme has allocated RM33.5mil to help empower local Bumiputera companies between 2021 and last year, the Dewan Rakyat was told on Tuesday.
In this week’s briefcase, an Adelaide-based start-up has received a grant to prevent the world's leading cause of blindness, investments in Australian start-ups are declining and an iconic vineyard hits the market. Plus upcoming business events in South Australia.
There are about 400 licensed direct sales companies in Malaysia, which are mostly owned by local companies, said Domestic Trade and Cost of Living Minister Datuk Seri Salahuddin Ayub. Speaking at a press conference after presenting the Research, Development, and Commercialisation Grant of Program Khazanah Alam Industri Jualan Langsung and handing over the direct selling licence here on Wednesday (March 29), he said only 18% of the licensed direct sales companies are foreign companies.