KUALA LUMPUR: The Malaysian Investment Development Authority (MIDA) and BEYOND4 Sdn Bhd have inked a memorandum of understanding (MoU) to support high-growth small and medium enterprises (SMEs).
In a statement today, MIDA said the partnership also aims to strengthen domestic talent development across Malaysia, in alignment with the country’s aspiration to become a hub for digital innovation and entrepreneurial growth.
This strategic partnership will focus on empowering local companies to transition to tech-driven models, fostering business expansion and developing a skilled workforce for the future economy.
MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the partnership is a direct response to the need for critical support structures that enable start-ups to grow into micro, small, and medium enterprises (MSMEs).
It also aims to bridge the technology gaps for SMEs, allowing them to expand beyond Malaysia and thrive in an increasingly competitive global market, he highlighted.
"MIDA has taken a proactive role in supporting SMEs growth and facilitating access to funding, technology, and research capability through our Domestic Investment Coordination Platform, while also strengthening industry linkages to help them scale up and stay competitive,” Sikh Shamsul said.
The agency noted that the partnership with BEYOND4, a multi-tier ecosystem accelerator, is a key component of its broader strategy to empower local companies to move up the value chain in line with the New Industrial Master Plan (NIMP) 2030.
It stated that MIDA and BEYOND4 will leverage resources and expertise to provide comprehensive support across several key areas, including access to financial assistance and incentives, facilitated partnerships and collaborations with multinational corporations (MNCs) and research institutions.
Additionally, the collaboration will focus on capacity building, skills development, infrastructure to enhance digital connectivity, and ongoing policy advocacy and regulatory streamlining.
"This partnership will also help improve access to international markets, creating new opportunities for businesses and entrepreneurs alike,” said MIDA.
Most importantly, the initiative will lead to the creation of high-value jobs for locals, empowering individuals and communities while reinforcing substantial economic impact and resilience through increased foreign and domestic investments, it added. - Bernama
