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PETALING JAYA: The business community and small and medium enterprise (SME) players should take advantage of the various initiatives provided by the government to speed up economic recovery, says Deputy Minister of International Trade and Industry (Miti) Datuk Lim Ban Hong.
He said the business community and SMEs need to explore new opportunities, especially in the export sector.
Lim explained that by giving more focus to the export market, especially to regional countries, Malaysian businesses could further increase their reach at the global level.
“The agencies under Miti provide many incentives and access to new markets. The initiative will lead to the introduction of more Malaysian brands abroad and will indirectly create new market exploration,” he said after officiating the CITYPlus 2022 Investment Forum.
Lim highlighted that under the 12th Malaysia Plan (12MP), SMEs are expected to contribute 45% to the country’s gross domestic product and 25% to total exports by 2025.
“Strategic plans and also plans that have been launched by the government are, for example, the 12MP, MyDigital Blueprint, as well as our policy regarding IR4.0.
“I ask that the business community take the opportunities provided by the government because these have been prepared to aid them,” he said.
Source: https://www.thestar.com.my/business/business-news/2022/08/15/firms-should-take-advantage-of-government-initiatives