Sim: Backed by three factors, the country is well placed to navigate global uncertainties
PETALING JAYA: Malaysia’s competitiveness rests on three key factors – timing in relation to global conditions, its strategic geographical and economic position, and its diverse, skilled workforce, says Steven Sim.
Drawing on principles from The Art of War, the Entrepreneur Development and Cooperatives Minister said success in uncertain times comes down to “tian shi, di li, ren he” (timing, geographical advantage and human unity).
He said these strengths put Malaysia in a better position to navigate ongoing global uncertainties, including geopolitical tensions and economic volatility, while continuing to support business growth and innovation.
“The crisis is not unique to Malaysia... it is a global one driven by geopolitics and wider uncertainties.
“However, this does not mean we lack the opportunity or capability to move forward,” he said in his speech during the Bisnes Sinar Harian Awards (Bisa) 2026 yesterday.
Sim said the country must continue strengthening its support for entrepreneurs, particularly small and medium enterprises (SMEs), which are increasingly demonstrating strong growth potential.
He cited the example of a nasi lemak entrepreneur, Saleha, who started from a roadside stall selling a few hundred packets a day and has now scaled up to around 15,000 packets daily, with plans to reach 30,000 packets.
“I’ve told them the ministry will help them achieve that target.
“The question is how we can help them achieve that next stage of growth. That is where the ministry plays its role,” he said.
Sim also said SMEs should not be confined to traditional or low- value industries.
“It is not enough to say SMEs are only strong in products such as keropok lekor or snacks. We should also be asking why Malaysian entrepreneurs cannot move into higher-value sectors such as semiconductors,” he added.
Sim also highlighted innovation in the oil and gas-related sector, where a Malaysian company has developed palm oil-based lubricants as part of its efforts to advance green technology and industrial upgrading.
“This shows that Malaysian entrepreneurs are not only scaling up but also innovating at a technological level,” he said.
“At the same time, the ministry is committed to helping these SMEs grow, even during the current global crisis,” he said.
Meanwhile, Karangkraf Media Group chairman Firdaus Hussamuddin said the event is more than just a ceremony, describing it as a recognition of the resilience and determination of Malaysian entrepreneurs operating in a challenging economic environment.
She said the awards honour business owners who continue to grow despite uncertainty while also providing visibility for SMEs which form the backbone of the economy.
“We honour the courage of entrepreneurs who persist in difficult conditions.
“Sinar Harian stands alongside them as a consistent voice, reflecting the realities and aspirations of the people, including entrepreneurs across the country,” she said.
Firdaus added that success should not be measured solely by profit or scale but also by integrity, social impact and contribution to nation-building, adding that these values are essential in building a sustainable business ecosystem.
