KUALA LUMPUR, June 6 — Micro, Small and Medium Enterprises (SMEs) should be recognised for their contributions and efforts toward the nation’s economic development, says Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan. He said MSMEs represented a large part of the total number of businesses in various sectors that contributed greatly to the gross domestic product (GDP).
“Based on MSME data in 2022 by the Department of Statistics Malaysia (DOSM), MSMEs contributed RM580.4 billion or 38.4 per cent to the country’s GDP.
“They also contributed RM144.5 billion or 10.5 per cent to the country’s exports.
In addition, 7.59 million workers or 48.2 per cent of the country’s workforce also come from the MSME sector,” he said in his keynote address at the Malaysia Industry Personalities and Entrepreneurs Awards 2024 here today.
He added that the awards, which assessed the performance of local companies and categorised them according to their strengths, were crucial for enhancing entrepreneurs’ performance. Ramanan highlighted that agencies under his ministry also provide comprehensive service packages for those entering the entrepreneurial field, such as Amanah Ikhtiar Malaysia (AIM) and Tekun Nasional. “AIM, which is one of the main award recipients tonight, focuses on entrepreneurs who want to start and expand their businesses with seven financing schemes ranging from RM5,000 to RM30,000, targeting women and young entrepreneurs through the.
