Govt ready to assist SMEs in resuming business activities

09 Aug 2020 / 15:15 H.

KOTA KINABALU: The government is ready to assist small and medium-sized enterprises (SMEs), including micro entrepreneurs in restarting their business activities to ensure that the country is on track to achieve its economic recovery target next year.

Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said the ministry, together with the Malaysia External Trade Development Corporation, Sirim Bhd and the Malaysia Automotive, Robotics and IoT Institute (MARii) is ready to assist industries such as food and beverage, animal husbandry and automotive so that they will be able to contribute to the country’s gross domestic product (GDP).

“We need these sectors to resume their activities because we want the nation’s economy to recover by next year, and right now we are on the right track towards ensuring that the target can be achieved.

“Bank Negara Malaysia has announced that the (economic) growth is a little slow this year, but if we are able to recover by 2021, international bodies such as the World Bank have said that Malaysia would be one of the earliest countries to record positive economic growth of between 6.3% and 7.5%,” he said.

Mohamed Azmin said this to reporters after his meeting with Bumiputera entrepreneurs in conjunction with his working visit to Sabah here, today.

He said the meeting was held to discuss the challenges faced by the SME entrepreneurs in resuming their business activities after the implementation of the Movement Control Order in March.

The minister said the reopening of the economic sectors which started in May managed to reduce the unemployment rate from about 860,000 to 773,000 in June.

“As such, I hope that the SMEs and the micro enterprises will resume their business activities as soon as possible, and the ministry will assist via several initiatives to boost the SMEs’ productivity,” he added. — Bernama

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