Minister of the International Trade and Industry (Miti) Datuk Seri Mustapa Mohamed said Miti was also targeting a 10 per cent increase in Bumiputera VDP vendors in providing manufacturing goods and services, which currently numbering 1,440 companies. Bernama pix

KUALA LUMPUR: The Ministry of International Trade and Industry (Miti) targets at least a 10 per cent increase in the procurement value under the Vendor Development Programme (VDP) this year from RM4.88 billion in December last year.

Its minister, Datuk Seri Mustapa Mohamed said Miti was also targeting a 10 per cent increase in Bumiputera VDP vendors in providing manufacturing goods and services, which currently numbering 1,440 companies.

"To date, we have 21 anchor companies and we hope it can be increased to at least another five quality companies, whether it is government-linked or private-owned companies," he told reporters after attending the Vendor Development Programme Consultation Council (MPPPV) here, today.

Mustapa said in order to facilitate the growth, anchor companies would be given a double tax deduction which had been extended to year 2020 of a maximum claim amounting to RM300,000.

He said the amount could be used to develop the capability of the Bumiputera vendor companies.

"There is also the Bumiputera Vendor Research and Commercialisation Grant where RM9 million has been allocated this year and another RM7.5 million for the Bumiputera Vendor Capacity Building Programme.

"Today we have distributed RM4 million in total to seven anchor companies for the grant namely, Tenaga Nasional Bhd (TNB), Perusahaan Otomobil Kedua Sdn Bhd and Uzma Engineering Sdn Bhd," he said.

Mustapa said TNB has the most number of vendors with 982 Bumiputera companies which supplied RM1.678 billion worth of procurement value last year.

At the MPPPV meeting, he also witnessed the participation of Adabi Consumer Industries Sdn Bhd, Sime Darby Property Sdn Bhd and Sime Darby Plantation Sdn Bhd as new VDP anchors. Of the 21 anchors, 14 are high-performing companies or PCG20 GLC, six local large companies and a multi-national company.

Meanwhile, Mustapa said Miti would co-host the 5th GLC ExploreAce along with UEM Group Bhd, Sime Darby Bhd and the Malaysian Industrial Development Finance Bhd on Aug 8, 2017.

The event will feature business matching, advisory programmes and seminars, which are aimed at increasing the participation of VDP anchors and vendors. -- BERNAMA

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