PUTRAJAYA: The government has allocated RM33.8bil to implement 325 initiatives and programmes for entrepreneurship and developing micro, small and medium enterprises (MSMEs) this year.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the programmes, which would benefit over 578,000 MSMEs, are being implemented by 14 ministries, over 50 agencies and 13 state governments.
"There is a 26% increase in the number of programmes and a 118% rise in the total allocation reported for this year compared to last year’s 258 programmes and a total fund of RM15.48bil,” he said in a statement Tuesday (Nov 26).
He said this after chairing the Secretariat Meeting of the National Entrepreneurs and MSME Development Council (SEK-MPUPK) 4/2024.
He added that SME Corp Malaysia chief executive officer Rizal Nainy also briefed the meeting about the improved reporting on the 2024 SME Integrated Plan of Action (SMEIPA), which achieved full reporting for the first time.
Ahmad Zahid said that Rizal also told the meeting that SME Corp Malaysia had conducted 52 engagement sessions across ministries and Federal and state governments this year.
SMEIPA is a platform for coordinating, monitoring and evaluating the implementation of MSME programmes across various ministries and agencies.
Ahmad Zahid said the meeting was also informed of the brainstorming sessions on scaling up MSMEs.
He said the Entrepreneur and Cooperatives Development Ministry, as the leading ministry for MSME and entrepreneurship development, would implement the brainstorming sessions to identify key factors that support and accelerate MSME transformation.
He said the findings from the brainstorming sessions would be used as the main framework for drafting MSME development strategies under the 13th Malaysia Plan (13MP - 2026-2030).
"It’s aimed at achieving two targets, namely increasing the number of medium-sized firms from 1.8 per cent in 2023 to 5 per cent within two years (2026-2027) and creating at least one Malaysian unicorn during the 13MP,” he said.
Ahmad Zahid also told the same meeting that the composition of the SEK-MPUPK committee members had been updated, with the Malaysia Productivity Corporation (MPC) and the Implementation Coordination Unit (ICU) of the Prime Minister’s Department as new permanent members. – Bernama
