The RM100 million allocations by the State government for modernising the agriculture sectors will facilitate local smallholders in the agriculture sector through joint ventures with private sectors.
During the officiating ceremony of the Workshop on Venture Capital on August 23rd at Kuching, Deputy Chief Minister YB Datuk Amar Douglas Uggah Embas said the business model through the venture capital will aid in improving the farmer’s livelihood and introducing them to a new level of agriculture by using technology.
“Right now we are proposing a Sarawak modal venture capital whereby we want to bring in the private sector. So it is going to be collaboration between the private sector, the farmers as well as the government,” said YB Datuk Amar Douglas Uggah.
Organised by the Ministry of Modernisation of Agriculture, Native Land and Regional Development (MANRED) with Sarawak Development Institute, the one day workshop aimed in identifying a viable and sustainable model for venture capital in the agriculture and agro-based sector to benefit the community and private investor as partners in the venture.
As the modal aims to uplift the livelihood of the farmers and bringing in a new level of farming to the smallholders, YB Datuk Amar Douglas Uggah who is also the Minister of Modernisation of Agriculture, Native Land and Regional Development said that a proper standard operating procedure (SOP) is crucial to manage the RM100 million allocations.
“Eventually we hope to create a community based enterprise involving the rural people, where they will eventually come together and form their management and run this enterprise as a cooperative basis,” said YB Datuk Amar Douglas Uggah hoping that the new modal could be implemented by March next year.
As the State aims to be a net exporter of agriculture produce, he also emphasize on the need to involve the participation of smallholders who has the advantage of land ownership and manpower but lack management, thus making the partnership between the private sectors, local people and the government crucial to achieve the vision.
