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Masterplan To Synchronise SMEs Growth With New Economic Model To Be Drawn Up
PUTRAJAYA, Feb 12 (Bernama) -- A masterplan spanning between 2011 and 2020 will be drawn up to synchronise small and medium enterprises'(SMEs) growth with the New Economic Model to be tabled soon, said Datuk Seri Najib Tun Razak on Friday.
The prime minister said the masterplan would create an eco-system that would fuel SMEs' speedier growth not only at domestic level but also at international stage besides providing the impetus for funding, capacity-building and logistical support.
The masterplan would be a major step forward for SMEs to contribute towards stimulating the country's gross domestic product and to produce national, regional and global champion for the country's economic growth, said Najib, who is also Finance Minister, to reporters after chairing the 10th National SME Development Council meeting.
Najib said attention would also be given to the agriculture and industrial sectors under the masterplan. The prime minister said SMEs' contribution to the GDP remained static at 29 per cent between 2000 and 2004 while their contribution rose to 29.4 per cent in 2005 and to 31.4 per cent in 2008.
He said SMEs played a crucial role in balancing the nation's economy from being adversely affected as some SMEs in certain sectors were resilient and rebounded during the economic slowdown. Najib said the services sector was the main contributor to SMEs' expansion between 2005 and 2008, adding that the SMEs' GDP growth attained the highest level at 10.3 per cent in 2007 before it dwindled owing to the global economic and financial crises.
The prime minister said the National SME Development Council had approved the setting up of a special unit responsible for SME development at every agency and ministry using available resources to boost effectiveness, coordination and monitoring SME development initiatives.
The council also encouraged all ministries and agencies to adopt the SME Competitive Rating for Enhancement (SCORE) to monitor SMEs' growth under their programme, he said.
On the Integrated Action Plan 2009/2010, Najib said 354 programmes are being implemented this year with financial commitment totalling RM6.02 billion from all funds and SME programmes.
Nearly 55 per cent or RM3.3 billion has been allocated for SME development in the services sector in tandem with the government's aspirations to turn Malaysia into a high-income economy, with the services sector as the growth driver, he said. Last year, a total of 157 major programmes were carried out with RM2.68 billion in financial commitment that benefited 732,000 SMEs.
Of the whole programme, Najib said 18 were to enhance supportive infrastructures, 120 for capacity-building and 19 to improve access to financing. The prime minister urged SME operators to seek advice from Bank Negara Malaysia for financing opportunities. -- BERNAMA
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