by FARA AISYAH / Pic by ISMAIL CHE RUS

THE government will continue to support private sector initiatives like GLC ExplorAce as platforms to expand Bumiputera vendors participation in the larger economic cake, said Datuk Seri Mustapa Mohamed.

The International Trade and Industry (MITI) minister said collaborations with UEM Group Bhd and Sime Darby Bhd as lead anchors, and lender Malaysian Industry Development Finance Bhd (MIDF) will strengthen the Vendor Development Programme (VDP).

“This initiative will guide Bumiputera vendors to become successful not only in Malaysia, but also in Asean and eventually become national champions,” Mustapa said after officiating the soft launch of GLC ExplorAce 2017

in Kuala Lumpur yesterday. MITI has been entrusted to devise the strategy for VDP.

GLC ExplorAce provides avenues for vendors to participate in business matching, networking, financial advisory and entrepreneurship sharing sessions.

Mustapa said assistance from anchor companies, vendors and financial institutions would make vendors more competitive, dynamic and competent.

GLC ExplorAce started with only 21 vendors, but has grown to 1,440 vendors registered under the VDP. The programme has recorded a total of RM28.1 billion contract revenue from between 2014 and 2016.

GLC ExplorAce 2017 will start to focus on the startups.

About 50 organisations will be exhibitors at the GLC ExplorAce 2017, including MITI and its agencies, Bumiputera Agenda Steering Unit, Bank Negara Malaysia, Perbadanan Usahawan Nasional Bhd, Malaysia Digital Economy Corp, anchor companies, multinational companies, vendors and local lenders.