Kota Kinabalu: State Minister of Industrial Development and Entrepreneurship, Datuk Phoong Jin Zhe, is ready to support Sabah Entrepreneurs Transformation (SET) to equip more entrepreneurs with a transformative agenda.
Phoong said this during the SET Chinese New Year Luncheon at Hilltop Lintas, setting the bar high to align with SET’s mission to train 100 entrepreneurs annually.
He said he is committed to supporting more entrepreneurs and ensuring that the training aligns with the new transformative agendas, namely Artificial Intelligence (AI), Electric Vehicles (EVs), green industry as well as environmental, social and governance (ESG) agendas.
He said 70pc to 80pc of Malaysian firms are conventional businesses and are unprepared for the upcoming changes as they lack awareness and understanding of the evolving landscape.
“We need to embrace these changes because some of our entrepreneurs are still doing business in the traditional way.
“In this digital era, we need to look at how we can help transition from conventional to digital,” he said.
Phoong, also a Luyang Assemblyman, said EVs may surpass traditional combustion cars, presenting abundant opportunities for entrepreneurs to innovate and thrive.
“Not only EVs, but we are also discussing other aspects like the green industry. Within the next 100 days, we are set to launch Sabah’s largest-ever investment project – a green steel manufacturing endeavour,” he said.
Phoong said the forthcoming investment’s focus is on green industries, aligning with the growing ESG agendas.
This year, expect increased discussions on green investments, extending to commercial banks, he said.
Phoong said while traditional sectors like vendors may not immediately engage with ESG, SME corpses are making ESG guidelines that will change how they do business.
“It is imperative for me to collaborate with entrepreneurs, NGOs, Chinese chambers, and other crucial chambers and commercial agencies. Together, we can provide training and raise awareness among entrepreneurs,” Phoong said.
SET President Dato’ George Lim said its vision was to create an ecosystem and platform supporting entrepreneurship, a key driver of job creation.
George said in empowering 100 entrepreneurs each year, SET achieves it through four pillars.
“First is the two-day Entrepreneurs Business Camp, the Business Pitching Competition, leadership transformation, and the creation of an Entrepreneur Community,” George said.
Also present were President of Shareda cum SET advisor, Datuk Chua Soon Ping and President of Sabah China Chamber of Commerce (SCCC), Datuk Frankie Liew.
When asked about the issue regarding the Environmental Impact Assessment (EIA) report not being publicly available for approving SBH Kibing operations in Pantai Andab Bangau Kudat, Phoong said to wait for a statement from the Environmental Protection Department (EPD).
“EPD has the strictest requirements in Malaysia, and they are best positioned to verify the accuracy of the report and confirm its validity.
“They can provide clarification on whether the information in the report is accurate,” he said.
He noted a viral Facebook post that complained about the absence of an EIA report approving SBH Kibing operations in Pantai Andab Bangau, Kudat, due to its location and discharging water into the fragile ecosystem of Tun Mustapha Marine Park.
