KUALA LUMPUR: Entrepreneur and Cooperatives Development Minister Steven Sim Chee Keong has set out an ambitious agenda for Malaysia’s small and medium enterprises.
He highlighted the twin mandate of his new portfolio – safeguarding workers’ welfare and empowering entrepreneurs to build globally competitive brands.
Disclosing this at the opening of Malaysia Brand Day 2026 today, Sim said, “The prime minister tasked me to jaga pekerja (take care of the workers) first, ensuring wage growth and social protection, and now my mission extends to SMEs, to take care of the tauke (employer) as well.”
Sim was referencing recent improvements in median wages, social security protection and gig worker coverage.
The minister outlined the challenges facing Malaysian businesses, including intense global competition from long-standing trade partners such as China and the rise of protectionism in Western economies.
He warned that continuing with “business as usual” could lead to enterprises going out of business, underscoring the urgency for reform and innovation.
To tackle these challenges, Sim unveiled the Entrepreneur and Cooperatives Development Ministry ABCD Strategy – Accelerate productivity, Bureaucracy reduction, Capital accessibility and Develop market access.
“Over 90% of business establishments are SMEs, but productivity is still a challenge. Our focus is to help businesses improve efficiency, simplify processes, secure financing and expand into new markets,” he said, adding that digitalisation underpins all four pillars.
Government support for SMEs was also highlighted, including RM2.5 billion in additional financing, tax reimbursements for overpaid taxes in 2026, zero-rating for new SMEs in their first year and reduced Sales and Service Tax rates for qualifying enterprises. An annual RM10 billion allocation under the Sara programme will further stimulate local consumption and support smaller businesses.
Sim stressed the role of branding in driving long-term business resilience. Citing local success stories such as Jimmy Choo, Yuen Seng TCM, Yi Yang baby products and e-commerce florist Bloom This, he illustrated how Malaysian entrepreneurs are leveraging creativity, heritage and digital tools to scale their brands globally.
“Malaysia is strategically located in the middle of three economic superpower zones, the Pearl River Delta, Silicon Valley, and the Bay of Bengal trade corridor. With the right strategies, our SMEs can transform from cost centers into value centres, building brands that are recognised and respected worldwide,” Sim said.
Malaysia Brand Day 2026, organised by the Branding Association of Malaysia and supported by government agencies, provided the backdrop for Sim’s address.
The three-day artificial intelligence-powered exhibition brings together over 100 Malaysian brands from 16 industries, alongside policymakers, investors and entrepreneurs, showcasing the nation’s creativity and commercial potential.
Branding Association of Malaysia president Datin Winnie Loo described the event as more than an exhibition: “Branding is not a luxury, it is a national necessity. Malaysia Brand Day marks the beginning of a movement to build brands that the world recognises, respects, and remembers,” she said, highlighting the association’s 25-year history of advocating brand excellence.
Organising chairman Eden Yap emphasised that the initiative is a national-scale platform for nation-building. “Every brand built by Malaysians strengthens Malaysia. This is a platform to encourage support for local brands while inspiring entrepreneurs to invest in innovation and intellectual property.”
Sim’s presence underscored strong public-private collaboration and alignment with national priorities to help SMEs move up the value chain and enhance Malaysia’s global competitiveness.
He declared: “2026 is the year we make Malaysian businesses great. Let’s go. Jalan terus (march on).
Malaysia Brand Day 2026 continues until Saturday, featuring curated showcases, leadership dialogues, industry panels, business matching, and AI-powered engagement tools, all designed to elevate Malaysian excellence and generate long-term economic value.
