Wednesday, September 26, 2012

Government t Hopes Foreign Financial Institutions Can Assist Local SMEs

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=697476

Published: September 26, 2012

KUALA LUMPUR, Sept 26 (Bernama) -- The government hopes foreign financial institutions can play an active role in providing solutions for the country's small and medium enterprises (SMEs).

Several discussions have been held with foreign banks to encourage them to help local SMEs grow, Deputy Finance Minister Datuk Donald Lim Siang Chai told the media at the Malaysian Exporters Market Access Solutions Forum here today.

"We get very encouraging support from them and want them to lend their money to SMEs as we know that a lot of them are looking for bigger clients, but we also want them to have some percentage of annual fund to be loaned to SMEs," he said.

The government does not yet have formal guidlelines on the matter, he said, adding local SMEs need to collaborate with foreign banks if they want to export their products to the foreign banks' home country.

"For the China banks as an example, SMEs need their assistance to export their products to China, hence the banks can help them to understand the market there," he said.

-- BERNAMA

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