Mid-Tier Companies Development Programme Recorded RM39.5 Bln Annual Sales In 2024 -- Tengku Zafrul

KUALA LUMPUR, Nov 13 (Bernama) -- A total of RM39.5 billion in annual sales was recorded in 2024, a 20 per cent increase compared to 2023, through the alumni of the Mid-Tier Companies Development Programme (MTCDP), said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said that almost 60 per cent of the amount was exports.

“This milestone also contributed to Malaysia’s position as the 24th largest trading nation in the world,” he said in his keynote address at the 2025 Mid-Tier Companies Chief Executive Officers Summit here today. 

A total of 394 companies have benefited from the MTCDP established from 2014 to 2025, according to the Malaysia External Trade Development Corporation (MATRADE). 

Tengku Zafrul said MTCDP’s alumni had also successfully penetrated 115 new international markets by 2024, representing a 49 per cent year-on-year increase. 

“Besides ASEAN and Asia, MTCs are also entering the Middle Eastern (Qatar), African (Gabon and Nigeria) and European (Romania and Italy) markets,” he said. 

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He said that 6,408 new job opportunities were created in 2024, up 20 per cent from 5,339 in 2023. 

“Of this total, 68.5 per cent were highly skilled positions, while the rest were semi-skilled positions,” he said. 

Apart from that, he said that as of last year, more than 11,000 micro, small, and medium enterprises (MSMEs) had been integrated into the MTC export supply chain, marking a 10 per cent year-on-year increase. 

He stressed that sustainability practices, branding and digitalisation adaptation had successfully strengthened MTC’s position in the international market. 

According to Tengku Zafrul, in a challenging global economic landscape, the nation’s resilience would depend on the MTC ecosystem as the backbone of the industry. 

“Despite representing only about one per cent (11,235) of the total registered companies, MTCs contributed 40 per cent to the gross domestic product in 2023,” he said. 

Meanwhile, MATRADE chief executive officer Datuk Seri Mohd Mustafa Abdul Aziz said that since its inception in 2014, MTCDP has remained anchored to a singular and powerful mission of empowering Malaysian companies to rise higher and reach beyond perceived limits.

He said Malaysian MTCs have reinforced their presence across ASEAN while confidently expanding into new and unfamiliar markets, from South Asia to Latin America.

“We have also witnessed a significant rise in branding and visibility, with more companies establishing a confident presence in the international marketplace, shifting perceptions from ‘Made in Malaysia’ to ‘Made by Malaysia’.

“This advancement reflects the growing global trust in Malaysian quality, innovation and resilience,” he said in his welcoming remarks.

Themed “Forging ASEAN’s Next Chapter: Malaysian Mid-Tier Companies Driving Resilient and Inclusive Growth”, the summit convened over 300 chief executive officers from the Mid-Tier Companies Development Programme alumni network alongside key industry stakeholders to strengthen connectivity, competitiveness and collaboration within the regional business ecosystem.

-- BERNAMA