Through the MARA Integrated Smart Auto (MISA) initiative, Majlis Amanah Rakyat (MARA) has spent around RM70 million on the entrepreneurs in the automotive field since the initiative was first introduced in 2013, according to a Bernama report.

So far, 48 automotive entrepreneurs have benefited from the initiative, which offered a maximum funding limit of RM1 million, said rural development minister Datuk Seri Mahdzir Khalid.

MARA’s complete ecosystem in developing the automotive industry starts with technical education and vocational training, which provides automotive programmes at various levels up to the provision of entrepreneurship facilities, training, financial assistance and advisory services, Mahdzir said.

A special financing scheme specifically for automotive entrepreneurs through MISA has also been provided to help them expand their businesses and upgrade their workshops, Mahdzir added.

The rural development minister also said that several programmes, such as the MARA-Petronas Automotive Entrepreneur Development (PUMP) programme, the Auto Glass Expert (AGE) special programme as well as various other special programmes aimed at expanding the automotive business and industry were also developed to further strengthen entrepreneurs in their field.

The automotive sector was one of the TVET fields that received encouraging response and had focused on two main elements, namely to produce a professional and skilled workforce, and to guide individuals interested in becoming automotive entrepreneurs, said Mahdzir.

According to the minister, MARA would continue to commit to helping entrepreneurs who are interested in expanding their businesses and becoming more competitive, Bernama reported.