SMEs assured of help, says CM
Published on: Friday, March 29, 2019
By: Neil Chan
KOTA KINABALU: The State Government is fully committed to assist Small Medium Enterprises (SMEs) so that more jobs can be created and GDP contribution by SMEs to be increased going forward.
Chief Minister Datuk Seri Shafie Apdal said SMEs are the backbone of the economy and make up 98.5 per cent of business establishments in Malaysia.
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“Collectively, SMEs contribution for employment is 66 per cent and GDP is 37 per cent in 2017. Target for 2020 is for SMEs’ contribution to GDP to be increased to 41 per cent. He said many of the SMEs are facing tremendous constraints.
“They lack entrepreneurial skills, funding, knowledge and skills in management and marketing under the new economy.
“I believe that we will be able to overcome these challenges when the Government, banks and NGOs like SME Sabah come together and work hand-in-hand to transform SMEs into a knowledgeable, competent, innovative, and productive enterprise.
“As a step towards achieving this goal, SMEs should seize such types of opportunities to attend seminars to develop their knowledge and skills.
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The State Government is committed to ensure the prosperity of the people by enhancing Sabah’s economic growth and for this, SMEs sector is going to a play key role in our efforts to boost industrialisation and entrepreneurship, he said in his speech which was read out by Assistant Minister to the Chief Minister Datuk Jimmy Wong at the 2019 SME Sabah Business Seminar launching at a hotel, here, Thursday.
Shaifie said he was informed that the seminar will also be held in Sandakan on April 16 and in Tawau on April 17.
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“SME Sabah’s efforts to reach out to SMEs in Sandakan and Tawau is to be complimented and the Government greatly support such efforts. One of the six purposes of SME Sabah is to disseminate information to SMEs on the various financial and technical assistance offered by the Government and financial institutions.
“I would like to see SME Sabah continue to fulfil the rest of its six purposes; in particular to act as a medium to facilitate interaction between SMEs and the Government, large companies, and foreign companies; and to strengthen economic ties between SMEs as well as provide opportunities for growth in the SME sector.”
Meanwhile, Shafie said SMEs are an integral part of the State’s economy.
“Today, SMEs operate in a challenging environment. Domestic resource constraints are mounting and the competition is unrelenting.
“Against this backdrop, the need to innovate and create new value, to grow the top line and not just improve operational efficiency, becomes even more of an imperative. One effective key way to do so is through brand development and market positioning,” he said.
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