Abd Latif says local SMEs are poised to benefit from increased cross-border trade and investment.
THE Johor government should make early preparations to help small and medium-sized enterprises (SMEs) expand their market reach in anticipation of Malaysia’s Asean chairmanship in 2025.
Johor Bumiputera Chambers of Entrepreneurs and Traders vice-president Datuk Abd Latif Bandi said this was also in line with the expected signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement later in the year.
“With the region’s economy set to experience significant growth and the strategic partnership between Johor and Singapore through the JS-SEZ, local SMEs are poised to benefit from increased cross-border trade and investment opportunities.
“However, without proactive support from the state government, many local businesses may struggle to capitalise on these developments,” he said when contacted.
Abd Latif advised the state to begin laying the groundwork now to ensure that local SMEs would be ready to seize opportunities that will arise.
“This includes providing access to financing, training and market intelligence that will allow these businesses to scale up and compete on a regional level,” he said.
Abd Latif also believes that JS-SEZ has the potential to transform Johor into a regional economic powerhouse.
“It represents a unique opportunity for Johor-based SMEs to tap into Singapore’s market as well as the broader Asean region.
“Early preparation is crucial,” he added.
Abd Latif stressed the need for the state government to collaborate with various stakeholders.
“These include trade associations, educational institutions and industry experts to develop programmes that can enhance the competitiveness of Johor’s SMEs.
“We need a holistic approach that not only addresses the immediate challenges faced by our SMEs but also equips them with the skills and knowledge required to thrive in the long term,” he said.
