GOV’T ALLOCATES RM33.8 BLN TO IMPLEMENT 325 MSME PROGRAMMES - AHMAD ZAHID

PUTRAJAYA, Nov 26 (Bernama) -- The government has allocated RM33.8 billion to implement 325 initiatives and programmes for entrepreneurship and the development of micro, small and medium enterprises (MSMEs) this year.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the programmes, which will benefit over 578,000 MSMEs, are being implemented by 14 ministries, over 50 agencies and 13 state governments.

“There is a 26 per cent increase in the number of programmes and a 118 per cent rise in the total allocation reported for this year compared to last year’s 258 programmes and a total fund of RM15.48 billion,” he said in a statement today.

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 has committed to enhancing the monitoring and coordination of SMEIPA’s implementation, with the agency having successfully conducted 52 engagement sessions across ministries as well as 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.

The monitoring through SMEIPA involves assessing the achievements of the previous year’s programmes and the initiatives planned for the current year.

Ahmad Zahid said the government remains committed to empowering the development of MSMEs as seen from the Budget 2025 announcement, with RM40 billion allocated for loans, grants and business financing guarantees as well as capacity development under government agencies for entrepreneurs and MSMEs.

“Bigger challenges await the MPUPK Secretariat in ensuring more comprehensive monitoring and coordination in 2025,” he said.

Ahmad Zahid said the meeting was also informed of the brainstorming sessions on scaling up MSMEs.

He said the Ministry of Entrepreneur and Cooperatives Development (KUSKOP), as the leading ministry for MSME and entrepreneurship development, will 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, whereby the Malaysia Productivity Corporation (MPC) and the Implementation Coordination Unit (ICU) of the Prime Minister’s Department have been as new permanent members.

-- BERNAMA