Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/7/13/business/11655131&sec=business
Published: July 13, 2012
By LIZ LEE
lizlee@thestar.com.my
PUTRAJAYA: Launched by the Prime Minister yesterday, the SME
Masterplan has proposed six high impact programmes, reinforced by other
key initiatives to boost the small and medium enterprise sector within
the next eight years.
The six programmes devised are the
integration of business registration and licensing, the technology
commercialisation platform, SME investment programme, going export
programme, catalyst programme and inclusive innovation to empower the
40% of lowest income earners.
These programmes would enable the sector to achieve what is set out in the masterplan, based on a new SME development framework.
Under
the new SME development framework, the masterplan targets to increase
new businesses by 6% per year and the number of high growth and
innovative firms by 10% per year while raising labour productivity from
RM47,000 (2010) to RM91,000 and speed up the formalisation of businesses
by reducing the informal sector to 15% gross national income from 31%.
The
SME Masterplan also aims to expand SME's share in national employment
and exports to 62% and 25% from the current 59% and 19%.
Prime Minister Datuk Seri Najib Tun Razak
said “the plan will prioritise delivery through development of an
evaluation mechanism and monitoring to reach the targeted goals”.
“For this purpose, the role and function of SME Corp needs to be strengthened to enable the agency to spearhead the plan,” he said during the launch.
The
National SME Development Council also stated in the SME Masterplan
2012-2020 document that the most critical factor to ensure successful
implementation of the SME Masterplan is the existence of a strong
central agency to implement it.
“SME Corp would need to be given
sufficient authority and resources and have a more active role in the
budgetary decision on SME development,” it said.
Aside from the
six programmes, there are also four thematic measures to promote
resource pooling and shared services, create demand for SME products and
services, reduce information asymmetry and build capacity and
knowledge.
Specifically for the business environment in East
Malaysia, the initiatives proposed also include improving connectivity
and basic amenities, reviewing restrictive laws and policies and easing
market access.
Other macro supportive measures are the completion
of the integrated trade clearance and facilitation system,
implementation of the Bankruptcy Law to give entrepreneurs a second
chance, review of SME taxation policy and synchronisation measures on
productivity enhancement technologies with other relevant labour
policies.
The total of 32 initiatives which form an action plan
for the sector are based on eight guiding principles which include
consistency with national strategic direction, addressing market
failures and information asymmetry, catalysing the development of
private service providers and avoiding substituting private funds with
public funds.
Other principles are the involvement of private
sector, measurable results, getting the highest impact from funds and
clear accountability and delineation of roles.
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