KUALA LUMPUR: Malaysia's challenge is no longer creating more micro, small and medium enterprises (MSMEs), but helping existing businesses grow into larger, more competitive companies capable of expanding overseas, says Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong.
Despite MSMEs growing faster than the overall economy last year, Sim said more than three-quarters of Malaysia's nearly 1.3 million MSMEs remain micro enterprises, while only 1.1% have grown into medium-sized firms.
