NEC to focus on 7 areas to enhance exports
Published on: Wednesday, July 01, 2015
Kuala Lumpur: Malaysia will focus on seven areas to enhance exports in efforts to drive the nation towards achieving a high-income status by 2020. This was decided at the Second National Export Council (NEC) meeting held here Tuesday, chaired by Prime Minister Datuk Seri Najib Tun Razak.In a statement, the Malaysia External Trade Development Corporation (Matrade) said the focus were on key sectors/sub-sectors, expanding and enhancing high value-added exports and addressing cross-cutting issues such as productivity, human resource and skills needed.
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It will also focus on the involvement of key private sector members in focus groups, the ecosystem to support the national initiatives for exports and help to grow Malaysian brands both domestically and internationally. Matrade said 30 initiatives was finalised, out of which 16 was targeted at the small and medium enterprises (SMEs), which are expected to contribute at least 23 per cent to total exports by 2020. "Another 14 initiatives were targeted at the mid to large companies and multinationals which will act as champions to lead internationalisation efforts and provide the impetus for stronger linkages," said the national promotion agency.With over 8,000 SMEs currently, assistance will be provided to make them export savvy and more resilient in the international market.
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Matrade said it was well positioned to create 1,500 new SME exporters by 2020. "Under the Mid-Tier Programme, 540 companies would be groomed to become export champions by 2020, out of which 60 companies would be global champions and 480 regional champions," it said.
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