KUALA LUMPUR: Micro, Small and Medium Enterprises (SMEs) should be recognised for their contributions and efforts toward the nation’s economic development, says Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan.
He said MSMEs represented a large part of the total number of businesses in various sectors that contributed greatly to the Gross Domestic Product (GDP).
“Based on MSME data in 2022 by the Department of Statistics Malaysia (DOSM), MSMEs contributed RM580.4 billion or 38.4 per cent to the country’s GDP.
“They also contributed RM144.5 billion or 10.5 per cent to the country’s exports. In addition, 7.59 million workers or 48.2 per cent of the country’s workforce also come from the MSME sector,“ he said in his keynote address at the Malaysia Industry Personalities and Entrepreneurs Awards 2024 here today.
He added that the awards, which assessed the performance of local companies and categorised them according to their strengths, were crucial for enhancing entrepreneurs’ performance.
Ramanan highlighted that agencies under his ministry also provide comprehensive service packages for those entering the entrepreneurial field, such as Amanah Ikhtiar Malaysia (AIM) and TEKUN Nasional.
“AIM, which is one of the main award recipients tonight, focuses on entrepreneurs who want to start and expand their businesses with seven financing schemes ranging from RM5,000 to RM30,000, targeting women and young entrepreneurs through the ‘Sahabat AIM’ programme. To date, more than 300,000 have benefited from this AIM scheme.
“TEKUN Nasional offers financing packages ranging from RM1,000 to RM200,000 specifically for entrepreneurs in the process of expanding their businesses, such as the TEKUN Niaga Financing Scheme and the Indian Community Entrepreneur Development Scheme (SPUMI),“ he said.
The prestigious Malaysia Industry Personalities and Entrepreneurs Awards aim to recognise the achievements of entrepreneurial figures, young entrepreneurs, and both Bumiputera and non-Bumiputera entrepreneurs in the country.
The event, organised for the eighth year by NiagaTimes, encourages efforts to pursue excellence among local companies while motivating them to play a larger role in national development.
NiagaTimes advisor Emir Abdul Jalal said that the awards not only celebrated the excellence of MSMEs from various backgrounds but also appreciated their contributions to the nation’s economic development.
Meanwhile, renowned fashion designer Rizman Ruzaini and local singing group De Fam were among the 50 award recipients at the event.
According to the owner of a motivational company, Raja Shamri Raja Husin, who won the 2024 Social Entrepreneurship Icon category award, physical disabilities do not hinder one’s determination to succeed in life.
“I was born disabled without one leg and come from a rubber tapper family, helped by many people. Now, I help build entrepreneurs across the country, and for the past 22 years, I’ve been doing this,“ he told the media during the event attended by about 320 entrepreneurs from all over the country.
