BUTTERWORTH : The Ministry of Defence has effectively empowered Malaysian Armed Forces veterans and improved their socio-economic well-being through the Armed Forces Fund Board’s Hero Entrepreneur programme. Deputy Defence Minister Adly Zahari said the programme, introduced last year, successfully produced 29 veteran entrepreneurs in its first phase with an average income increase of 216%. He described this achievement as a remarkable success reflecting the strong entrepreneurial potential of MAF veterans when given proper opportunities and guidance. Adly stated that more than 60% of MAF veterans venture into entrepreneurship after retirement, necessitating support through knowledge enhancement in financial management and business operations. He confirmed the programme will proceed with a second phase this year involving 35 new MAF veteran entrepreneurs in collaboration with the Armed Forces Ex-Servicemen Affairs Corporation. The new phase combines six months of digital and physical coaching sessions focusing on financial literacy, innovation and market access to strengthen veteran-owned enterprises. Adly added that the participating entrepreneurs are involved in various business sectors including food and beverage, retail and manufacturing. LTAT chief executive Mohamad Ashraf Md Radzi said the Hero Entrepreneur reflects LTAT’s commitment under the MADANI Economy framework to expand financial inclusion. He stated that the programme’s success proves economic empowerment and social progress can go hand in hand within an integrated ecosystem. – Bernama