SME Corp Malaysia chief executive officer, Datuk Hafsah Hashim expects the small and medium enterprise (SME) sector to grow above six per cent this year driven by the good domestic demand. The sector has always been consistent in terms of growth and often outpaced the nation’s.
After the launch of SMIDEX 2013 and Asean-Korea SME Conference, Hasfah told reporters present that every year, the SMEs achieve growth about one or two per cent
better than the country’s every year and similar growth is expected this year.
Bank Negara Malaysia’s Annual Report 2012 said the nation’s economy
was expected to remain on a steady growth path, with an expansion of
five to six per cent this year, anchored by the continued resilience of
domestic demand and supported by a gradual improvement in the external
sector.
Hafsah said the good economic outlook would boost the SME sector: The sector’s performance would depend on how the SME policies and programmes had been carried out.
She said thatSMEs are important agents of economic growth; their development has
been recognised as a priority on the national agenda and many
programmes have been put in place to transform them into competitive,
resilient and value-creating entities. It was reported earlier that SME Corp
expected the SMEs to contribute 40 per cent to the nation’s gross
domestic product by 2020, from the current 32.5 per cent.
Hafsah said SMEs needed to leapfrog growth while technology and innovation would help the industry move forward.
SMEs have been good impact providers to the economy with technology
and innovation identified as the driving forces towards achieving a
sustainable SME growth in the country. SMEs’ good growth would help the country achieve a gross national income of US$15,000 even before 2020.
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