PETALING JAYA, – The Malaysian Social Impact Procurement Framework (PRISMA) was launched by the Ministry of Entrepreneurship and Cooperative Development (KUSKOP) with the aim of mainstreaming social impact procurement practices among government agencies and private companies.
According to the Minister, Steven Sim, this move will expand market opportunities for social enterprises in this country.
“KUSKOP became the first ministry in Malaysia to implement the practice of committing to a turnover value of at least RM300,000 this year, compared to RM100,000 last year,” he said at the Opening Ceremony of the Malaysian Social Enterprise Ecosystem Convention (KEPS) 2029 here.
“PRISMA is a new paradigm which is a shift from traditional procurement that only evaluates price and quality to procurement with a social impact that takes into account the impact on the environment, society and the economy,” he explained.
He added that government agencies and listed private companies will use part of the procurement activity funds made to support products and services from social enterprises.
