KUALA LUMPUR, Jan 9 — The Ministry of Entrepreneur Development and Cooperatives (Kuskop), through its agency SME Corp Malaysia, remains committed to empowering micro, small and medium enterprises (MSMEs) with an allocation of RM134.6 million to implement various initiatives and programmes in 2024.

Deputy Minister of Entrepreneur Development and Cooperatives Datuk R. Ramanan said through this allocation of RM134.6 million, SME Corp Malaysia is targeting more than 16,700 MSMEs to receive benefits this year.

He said in total, SME Corp has channelled a total of RM131.3 million in funds that have benefitted 22,861 MSMEs across the country. This includes financial assistance programmes for export purposes, namely the Bumiputera Export Promotion Programme (GEB) and the SMEs Go Global programme (SMEGG), as well as export capability and capacity development programmes and business matching.

“Malaysia continues to be committed to efforts to empower the country’s entrepreneurial ecosystem in line with the vision of the National Entrepreneurship Policy 2030 (DKN 2030) to make Malaysia a superior entrepreneurial country with the Madani Economy framework as a vehicle to raise the prestige of this country by restructuring the economy towards making Malaysia an economic leader in South-east Asia,” he said during his briefing session with SME Corp here today.

The session aims to provide further information on the role and function of SME Corp as the Central Coordinating Agency (CCA) in the development of MSMEs in Malaysia.

“This commitment also takes into account the Half-Term Review of the 12th Malaysia Plan which has set clear targets for the growth of MSMEs by 2025, such as a 41 per cent contribution to gross domestic product (GDP), 15 per cent to exports, 3.5 per cent in average labour productivity growth and 90 per cent of MSMEs digitising their business operations,” he said.

In the meantime, the SME Capacity and Capability Enhancement Programme (BAP), which was temporarily suspended earlier due to commitments that had exceeded the allocation, will be offered again to MSMEs this year with an allocation amounting to RM55 million.

“In addition, SME Corp will continue to implement other key programmes such as the Bumiputera Enterprise Enhancement Program (BEEP), Bumiputera Youth Entrepreneur Buddies (TUBE), Export Strengthening Program, Strategic Industry and High Performance Company Improvement Programme (PRESTIGE) as well as the BizMe Programme for inclusive enterprise development,” he added.