Ministry to strengthen contribution of SMEs to GDP

  • Business
  • Tuesday, 24 Jul 2018

Mohd Redzuan and his deputy Mohd Hatta Ramli (second from left) during their visit to MARA yesterday. - Bernama

KUALA LUMPUR: The Entrepreneur Development Ministry aims to strengthen the economic contribution of small and medium enterprises (SMEs), which currently stood at 36% of the country's Gross Domestic Product and fine-tuning the existing blueprint for the SME community.

Its Minister Mohd Redzuan Md Yusof said the ministry would focus on bringing sustainability to SMEs to ensure the community is not left behind in global markets.

“It is a challenging task for the ministry to look back at what it had gotten wrong, (and) what was done right.

If there's anything we have gotten right, we have to make sure it is improved and refined. “For example, areas where we are looking at include the development of entrepreneurs across the board which must be undertaken together with research and development efforts (R&D).

"In the absence of R&D, you (SMEs) will be left behind,” he said after chairing a meeting with the management of Majlis Amanah Rakyat here yesterday. — Bernama

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