Sunday February 10, 2013
Government to continue helping SMEs
By MAZWIN NIK ANIS and LOSHANA K SHAGAR
KUALA LUMPUR: The Government has assured small and medium enterprises of continued assistance for the sector to play a more cohe-sive role as the nation's engine of growth as planned, said the Prime Minister.
Datuk Seri Najib Tun Razak said the SME sector recorded many achievements and that the Government played an integral role in their success stories.
Najib said SME presently contributed 32.5% to Malaysia's gross domestic product (GDP) and the target was to reach 41% by 2020.
He pointed out that without easy access to loan facilities, including from Tekun the special fund set up to assist the sector it would be almost impossible for SME entrepreneurs to conduct businesses.
“If we don't provide financial help, it will not be easy for micro enterprises to start businesses.
“Many will have to resort to borrowing from ah long and illegal money-lenders. There is no doubt this is one of the Government's success stories,” he said.
Speaking at the opening of the na-tional Tekun convention and expo, the Prime Minister said that aside from Tekun, the Government had 82 other funds worth RM60.8bil, where businesses could obtain loan facilities and this was why the World Bank has named Malaysia the leading country in terms of providing credit access for five consecutive years.
Najib, however, reminded entrepreneurs that aside from financial help, there were other elements required to attain success, point- ing out that apart from thinking out of the box and being innovative and creative, they also needed to be diligent.
Later, Najib attended a Chinese New Year hi-tea celebration with residents of five charity homes in Taman Setia in Kajang near here.
He spent about an hour with 500 residents from the homes, dining with them and handing out red packets.
Those who attended the event were from an old folks home, three orphanages and a home for special needs children, along with residents receiving welfare assistance.