KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak today launched Chinese SMEs Entrepreneur Fund with a soft loan worth RM50 million to help Chinese SMEs to excel in different dimensions of their business.

He also hoped the fund will reduce the number of people resorting to loan sharks for financial aid and subsequently reduce the number of loan sharks in the country. "We do not need Ah Longs to be successful. But we want institutions, schemes and businesses to be successful," he said during his speech to over 2,000 people who attended the function at Galaxy Banquet Hall, Jalan Sentul.

Najib also launched Secretariat for the Advancement of Malaysian Entrepreneurs (SAME), a unit under the PM's department to create awareness of many government facilities and assistance available to SMEs. "SAME has a board of strong advisors who are willing to guide SMEs. Give out information, knowledge of the role of agencies that could help SMEs." He said the role of SAME was important as many still feel that they cannot apply for loans and funds because it is only for the Bumiputras. "They will disseminate information of which agency people can go to.

They play an important role to bridge the people with the government agencies," Najib added. He said the government can transform the country into a developed nation and an advanced high income economy in five years. Also present was MCA President Datuk Seri Liow Tiong Lai and his deputy Datuk Wee Ka Siong who is the Minister in Prime Minister's department. Wee is also heading the micro - credit loan schemes for the Chinese community. Wee said with the approval of Najib had also set up SAME. Wee said the fact remains that a majority of SMEs are of Chinese background.

"This proves that Najib does not only look after the Malays, Indians, Sabahans and Sarawakians but also the Chinese are not forgotten. "With allocation of RM50 mil soft loan for Chinese SMEs, he walks the talk this indeed is an inclusive approach.

Nobody is sidelined from the mainstream development." Liow said the party fully supports Najib's leadership as all races are looked after well and is confident Malaysia will be a developed nation in five years. Prime Minister Datuk Seri Najib Razak delivers his speech at the launch of Chinese SMEs Entrepreneur Fund. Pix by SAIRIEN NAFIS