KOTA KINABALU, The Ministry of Entrepreneur Development and Cooperatives (KUSKOP), through its agency, Perbadanan Nasional Berhad (PERNAS), is targeting RM4 million in financing for franchise entrepreneurs in Sabah this year. Its Minister Datuk Ewon Benedick said PERNAS has financed a total of 69 entrepreneurs in Sabah, with a total financing value of RM12.7 million, since 2009. 'The franchise industry in Sabah is developing positively, and I am proud to see various home-grown franchise brands proving that local brands can compete with international franchises,' he said, while officiating the PERNAS Carnival at the Sabah International Convention Centre (SICC), today. Ewon emphasised the need to elevate Sabah's local brands to the global stage, encouraging entrepreneurs to leverage the opportunities provided by KUSKOP and PERNAS for business development, through market access, assistance, and guidance. At the carnival, over 100 entrepreneurs and exhibitors participated, including franchise entrepreneurs, pre-franchisees, and local entrepreneurs promoting services, food, fresh ingredients, handicrafts, traditional products, and food trucks. Additionally, a memorandum of understanding (MoU) was exchanged between PERNAS and Serai Group Sdn Bhd, to strengthen collaboration in business development, market expansion, and entrepreneurial support initiatives. Meanwhile, KUSKOP introduced the Veteran Entrepreneurship and Financing Initiative (I-VIP), aimed at retirees and veterans. He said through this initiative, PERNAS has allocated RM3 million in funding, which is expected to create 200 new entrepreneurs and generate over 300 job opportunities. The initiative targets pensioners from uniformed services, government pensioners, and those from corporate or private agencies, as well as individuals receiving the Voluntary Separation Scheme (VSS) and Mutual Separation Scheme (MSS). 'Participants will receive funding assistance, guidance, training, and advisory services from PERNAS,' he said. Source: BERNAMA News Ag ency