KUALA LUMPUR, June 6 — Micro, small and medium enterprises (MSMEs) should be recognised for their contributions to economic development, said Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan.
He said MSMEs represent a large part of businesses in various sectors that contribute greatly to the gross domestic product (GDP).
“Based on MSME data in 2022 by the Statistics Department, MSMEs contributed RM580.4 billion, or 38.4 per cent, to the country’s GDP.
“They also contributed RM144.5 billion (10.5 per cent) to the country’s exports. In addition, 7.59 million workers (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 yesterday.
He said the awards, which assess the performance of local companies and categorise them according to their strengths, are crucial for enhancing entrepreneurs’ performance.
Ramanan said agencies under his ministry 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 ‘Sahabat AIM’ programme. To date, more than 300,000 have benefited from this AIM scheme.
“Tekun Nasional offers financing packages ranging from RM1,000 to RM200,000 specifically for entrepreneurs in the process of expanding their businesses, such as the Tekun Niaga Financing Scheme and the Indian Community Entrepreneur Development Scheme,” he said.
The prestigious Malaysia Industry Personalities and Entrepreneurs Awards aim to recognise the achievements of entrepreneurial figures, young entrepreneurs, and both Bumiputera and non-Bumiputera entrepreneurs in the country.
The event, organised for the eighth year by NiagaTimes, encourages efforts to pursue excellence among local companies while motivating them to play a larger role in national development.
NiagaTimes adviser Emir Abdul Jalal said the awards not only celebrate the excellence of MSMEs from various backgrounds, but also appreciate their contributions to the nation’s economic development.
Renowned fashion designer Rizman Ruzaini and local singing group De Fam were among the 50 award recipients at the event.
— Bernama
