The Terengganu state administration has kicked off Phase 1 of its Economic Support Initiative to mitigate the effects of the current global supply crisis on local enterprises, farmers, and industries. This strategic plan aims to bolster economic fortitude and deliver essential support to at-risk sectors throughout the region.
Ahmad Samsuri Mokhtar, the Menteri Besar of Terengganu, stated that the initiatives are tailored to assist micro, small, and medium enterprises (MSMEs) while safeguarding agricultural productivity amid global economic instability. The emphasis is on promoting economic sustainability and ensuring food security via targeted financial support.
A significant part of this initiative includes a seven-month repayment moratorium for borrowers under the Terengganu Sejahtera Entrepreneur Fund Scheme, commencing in June and concluding in December 2026. This measure is anticipated to aid 783 borrowers, deferring a total repayment sum of approximately RM2.1 million.
Furthermore, the state plans to allocate an additional RM2 million to the entrepreneur fund in 2026, allowing greater financial assistance access for small business owners. Officials believe this step will help local businesses navigate heightened operational expenses and market uncertainties.
In relation to the agricultural sector, support has been instituted for around 400 borrowers within the Agricultural Capital Assistance Scheme, granting a repayment moratorium from May 2026 until April 2027. This initiative involves deferred payments estimated at RM2.9 million.
Additionally, rice farmers in Terengganu will receive incentives as part of the new stimulus plan, receiving RM100 for each metric tonne of rice produced, with those exceeding 10 metric tonnes eligible for up to RM1,000. A budget of RM3 million has been set aside to assist more than 4,500 rice farmers across the state.
Beyond financial measures, the government intends to reassess the pricing structures for construction materials to assist contractors in managing fluctuating costs. Authorities will also prioritize minor yet impactful development projects aimed at generating immediate economic activity and local job opportunities.
Ahmad Samsuri concluded by stating that the Terengganu government will persist in evaluating the 2026 state budget to ensure that financial commitments are in sync with recovery objectives and the evolving needs of the state’s businesses and communities.
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