FGV Holdings Berhad (FGV) has reaffirmed its commitment to fostering local economic growth in Malaysia with the launch of the FGV Vendor Development Program (VDP). The program aims to empower 300 local vendors, aligning with one of the key pillars of FGV's Sustainability Framework.
The VDP was officiated by Tan Sri Rastam Mohd Isa, Chairman of FGV, at Festival FGV held in conjunction with Hari Peneroka FELDA 2024 at Malaysia Agro Exposition Park (MAEPS) in Serdang. The program aims to elevate the capabilities and competitiveness of local vendors, playing a crucial role in the industry's growth.
Aligned with FGV's mission, the VDP initiative standardizes vendor practices across its five business divisions nationwide: Plantation, Oils and Fats, Consumer Products and Integrated Farming, Logistics and Support, and Sugar. The initiative focuses on empowering young entrepreneurs and enhancing commercial capabilities.
"In support of Malaysia's national agenda, we aim to assist our vendors in becoming more competitive in local and global markets. Through our vendor development initiatives, we are creating a dynamic and resilient vendor ecosystem that will drive efficiency, reduce costs, and improve overall quality and delivery times," said Dato' Nazrul Mansor, Group Chief Executive Officer of FGV.
Dato' Nazrul further explained that VDP partners will be selected among capable Malaysian entrepreneurs. The program includes an entrepreneur initiative where participants undergo six months of skilling modules and training, followed by three months of professional development programs and elective training. FGV is committed to building a proficient vendor network adaptable to market dynamics and technological advancements.
The VDP offers structured training modules crafted in collaboration with relevant government and private agencies. These modules equip vendors with essential skills and knowledge to handle modern agriculture and industrial practices.
VDP partners will provide a range of services, including palm oil harvesting, infrastructure construction, electrical works, plumbing, road maintenance, and various supply chain services like machinery, tools, and general supplies. This diverse scope supports FGV's operations and creates opportunities for entrepreneurship and job creation throughout Malaysia, especially in underdeveloped regions outside major cities.
By investing in vendor development, FGV aims to foster a sustainable supply chain ecosystem that supports long-term growth and competitiveness. Through these efforts, FGV continues to uphold its leadership in the global palm oil industry while contributing positively to Malaysia's economic and social development goals.