PUTRAJAYA: SIX high-impact programmes are set to spur small medium enterprises (SMEs) to achieve an annual growth of 8.7 per cent by 2020 and raise labour productivity.
They are part of the 32 action plans under the second phase of the SME Masterplan.
In announcing the programmes, Prime Minister Datuk Seri Najib Razak hoped they would also meet the plan’s main objective of increasing their contribution towards the gross domestic product (GDP), employment and export share.
The programmes are:
– the integration of registration and licensing of business establishments, which will see a single registration point created via the National Business Registration System (MyCOID) and National Business Licensing System (BLESS) to simplify procedures and reduce time and cost in starting new business;
– a technology commercialisation platform that will provide a national network of privately managed platform to promote innovative ideas and linkages to a range of services including technical and financial support;
– an SME investment programme which will finance SMEs in the early stages through the development of investment companies that would invest in potential SMEs in the form of debt, equity or a hybrid of both;
– Going Export (GoEx) Programme which offers customised assistance to new exporters and SMEs venturing into new markets;
– Catalyst programme to create homegrown champions through a targeted approach with support in financing, market access and human capital development; and
– Inclusive Innovation, which is specifically designed to empower the bottom 40 per cent of the income group to leverage on innovation to promote community transformation including micro enterprise.
The SME Masterplan has targeted to increase GDP contribution by SMEs to 41 per cent in 2020 from the 32 per cent last year and increase employment share to 62 per cent from 59 per cent as well as raise the export share to 25 per cent from 19 per cent.
Speaking to reporters after chairing the National SME Development Council meeting here yesterday, he hoped the six high-impact programmes would also encourage new SMEs to join the sector and expand micro enterprises in the country.
He acknowledged that SME productivity in the country was still “low” compared to developed nations.
He hoped the six programmes would see labour productivity rise to RM91,000 per person in 2020 compared to the RM47,000 per person recorded last year.
“SMEs play an important role in the country’s economic development and even though we have achieved a level of success in this sector we must ensure it is on par with that of developed nations.
“Positive and bold steps, therefore, need to be taken,” he said.
Also present were Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir and Bank Negara governor Tan Sri Dr Zeti Akhtar Aziz.
As the biggest challenge in implementing the plan was the streaming of the efforts of the 56 related ministries and agencies, Najib said that the SME Corp Malaysia would be the “pulse” and main agency that would coordinate such efforts and action plans.
He also said the Corp’s roles would be reviewed, upgraded and empowered.
“The various programmes by both the ministries and agencies will be reviewed to avoid duplication and ensure that they would be more focused,” he said.
Source : New Straits Times