A master plan for the years 2011 to 2020 will be developed to synchronise small- and medium-sized enterprise (SME) development with the new economic model, the prime minister said.
Datuk Seri Najib Razak said the master plan would create an ecosystem that facilitated the development of SMEs from all aspects, includingfunding, capacity-building and logistical support.
"The aim is to help SMEs grow from small successful local companies to regional and global levels," he said.
The master plan will propose measures for SMEs to make a quantum leap in performance and for Malaysia to produce domestic, regional and global champions that can spearhead the country's economic growth.
The SME contribution to gross domestic product remained flat at 29 per cent from 2000 until 2004 but rose from 29.4 per cent in 2005 to 31.4 per cent in 2008.
"We've seen that the service sector is the sector that is most progressive in terms of SME development.
"We also want to focus on other sectors such as agriculture and manufacturing under the master plan," said Najib.
He added that stakeholders and other parties were being consulted to redefine the SME. The council had approved the setting up of a special unit responsible for SMEs at relevant agencies and ministries using available resources to enhance effectiveness, coordination and monitoring SME development initiatives.
The council also encouraged all ministries and agencies to adopt the SME Competitive Rating for Enhancement (SCORE) to monitor SMEs in their programmes.
Under the Integrated Action Plan 2009/2010, 354 programmes will be implemented this year with financial commitments totalling RM6.02 billion.
BT
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