The Terengganu state authorities have revealed Phase 1 of their Economic Stimulus Action Plan, aimed at attenuating the adverse effects of the current global supply crisis on local enterprises, agricultural sectors, and industries. This initiative intends to bolster economic resilience while extending direct support to vulnerable sectors statewide.
Menteri Besar Ahmad Samsuri Mokhtar articulated that these initiatives prioritize assistance for micro, small, and medium enterprises, alongside measures to ensure agricultural sectors maintain consistent production amidst global market volatility. He noted that the government emphasizes economic sustainability and food security through timely financial support.
Among the primary initiatives is a seven-month repayment moratorium for borrowers enrolled in the Terengganu Sejahtera Entrepreneur Fund Scheme. This moratorium extends from June to December 2026, expected to assist 783 borrowers with a total deferred repayment amount approximating RM2.1 million.
Additionally, the state has earmarked a supplementary RM2 million for the entrepreneur fund in 2026, enhancing access to financial support for small business owners. Authorities predict this measure will help local businesses navigate rising operational expenses and economic volatility.
The agriculture sector has also seen supportive measures, with roughly 400 borrowers under the Agricultural Capital Assistance Scheme benefiting from a repayment moratorium set from May 2026 to April 2027, amounting to deferred repayments near RM2.9 million.
Furthermore, rice farmers will benefit from production incentives within the new stimulus plan. A compensation of RM100 per metric tonne of rice will be offered, with additional incentives reaching up to RM1,000 for farmers exceeding 10 metric tonnes. An overall budget of RM3 million is allocated to help over 4,500 rice farmers in Terengganu.
Beyond financial relief, the government plans to reassess construction material pricing to assist contractors amid fluctuating building costs. Officials indicated a focus on initiating small-scale yet impactful development projects aimed at quickly invigorating economic activity and generating local jobs.
Ahmad Samsuri further affirmed that the Terengganu government will continue to evaluate the 2026 state budget to align expenditures with economic recovery endeavors and the evolving requirements of local businesses and communities.
