SMEs assured of continuous govt support
Posted bySMALL and medium enterprises (SMEs) will constantly be supported as they are one of the country's key economic growth drivers, said Deputy International Trade and Industry Minister Datuk Jacob Dungau Sagan.
However, local SMEs need to make bold changes if they are to play their role effectively in helping develop the domestic economy, he said.
"SMEs are a catalyst for the implementation of the recently announced New Economic Model. The dependence on the government, political patronage and rent-seeking mentality should have been erased from the local SMEs dictionary.
"The NEM is opening new opportunities for our SMEs to explore." Jacob noted that SMEs contributed 56 per cent of total employment in the country and accounted for more than 90 per cent of about three million businesses registered with the Companies Commission of Malaysia.
"These companies are expected to contribute 37 per cent of our gross domestic product this year compared with 32 per cent last year."
He said the facts and figures reflected the positive development of SMEs over the past five decades.
Source : NST
However, local SMEs need to make bold changes if they are to play their role effectively in helping develop the domestic economy, he said.
"SMEs are a catalyst for the implementation of the recently announced New Economic Model. The dependence on the government, political patronage and rent-seeking mentality should have been erased from the local SMEs dictionary.
"The NEM is opening new opportunities for our SMEs to explore." Jacob noted that SMEs contributed 56 per cent of total employment in the country and accounted for more than 90 per cent of about three million businesses registered with the Companies Commission of Malaysia.
"These companies are expected to contribute 37 per cent of our gross domestic product this year compared with 32 per cent last year."
He said the facts and figures reflected the positive development of SMEs over the past five decades.
Source : NST
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