KUALA LUMPUR: The Ministry of International Trade and Industry (MITI) has targeted to increase the small and medium enterprise (SME) market growth from 6.3 to 9.3 per cent under the SME Master Plan 2012-2020.
Its minister, Datuk Seri Mustapa Mohamed said the SME Master Plan 2012-2020 was aimed at contributing at least 41 per cent to the Gross Domestic Product (GDP) by 2020 from 33 per cent at
present.
He said the government would continue to expand financing options for SMEs by providing special funds and schemes either directly or through Bank Negara Malaysia.
“I must stress that SMEs should strengthen their management skills, financial and learning capacities, and fully utilise the support given by the government,” he said at the launch of 27th Asian Credit Supplementation Institution Confederation (ACSIC) Conference 2014 from November 16 to 21 here yesterday.
His speech was read by MITI secretary-general Datuk Dr Rebecca Fatima Sta Maria.
Mustapa said under the 2015 Budget, 18 programmes with a financial allocation of RM14.3 billion had been proposed for SME development, encompassing the services sector, Bumiputera entrepreneurs, youths, graduates, micro-enterprises, petty traders, women, smallholders, cooperatives, and trade associations.
Credit Guarantee Corporation Malaysia Bhd (CGC) president and chief executive officer Datuk Wan Azhar said CGC had so far this year provided warranty loans amounting to RM2.8 billion to 5,300 SMEs and targeted to disburse out loans to at least 300 more SMEs by year-end.
“Our target for 2015 is to focus on improving SME credibility by improving their credit standing,” he said.
The four-day conference themed ‘Credit Guarantee System: Fostering a Culture of Innovation to Enhance Sustainable Development’ is held from Sunday.
It is attended by 140 delegates from 19 credit guarantee institutions from 12 Asians countries, namely Indonesia, India, Japan, South Korea, Mongolia, Nepal, The Philippines, Papua New Guinea, Sri Lanka, Taiwan, Thailand, and host Malaysia.
CGC chairman Datuk Agil Natt was present. — Bernama