SMEs To Contribute 40 Per Cent To GDP By 2020, Says SME Corp

KUALA LUMPUR, Dec 18 (Bernama) -- The Small and Medium Enterprise Corporation Malaysia (SME Corp) expects SMEs to contribute 40 per cent to the country's gross domestic product (GDP) by 2020, from the current 32.5 per cent.

Source from (Bernama): http://www.bernama.com/bernama/v6/newsbusiness.php?id=916298
Published: December 19, 2012

Source from (The Star Online): http://biz.thestar.com.my/news/story.asp?file=/2012/12/19/business/12479225&sec=business
Published: December 19, 2012

Chief Executive Officer Datuk Hafsah Hashim said the target is achievable with SME Corp aiming for SMEs to increase their contribution to the GDP by one percentage point every year.

SME Corp will also implement its master plan next year, she said.

She said SMEs are an important agent of economic growth, SME development has been recognised as a priority on the national agenda and many development programmes have been put in place to transform SMEs into competitive, resilient and value-creating entities.

Asked about the outlook for 2013, she said it depends on the economic scenario, adding SMEs consistently perform much better than the overall economy.

Hafsah said SME Corp is the central point of reference for information and advisory services for all SMEs in Malaysia, and is given the huge responsibility to coordinate, monitor and evaluate the implementation of policies, strategies and development programmes for SMEs.

"The government has allocated RM14 billion in Budget 2013 to stimulate the growth of Bumiputera entrepreneurs," she told Bernama after the graduation ceremony for the Malaysia-Japan International Cooperation Agency Financial Counsellors and Business Counsellors programme.

She said the ceremony, officiated by Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir, was organised to upgrade and enhance the organisational capacity of SME Corp officers and enable them to provide efficient and effective business advisory services to SMEs.

"It also ensures that the SMEs are well-informed of the various initiatives and incentives that the Government, along with private establishments, have to offer," Hafsah added.

-- BERNAMA