Saturday, October 31

Policies on SME devt may be reviewed, says SME Corp

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SERI KEMBANGAN: Policies related to the development of small and medium enterprises (SMEs)  may be reviewed to strengthen the sector’s contribution to the economy.

SME Corp Malaysia chief executive officer, Datuk Dr Hafsah Hashim, said the proposed policy review would be based on a research being conducted by the agency and Universiti Putra Malaysia (UPM).

“The research will be completed by February (next year). The data would be used to prepare a new strategic policy for the SMEs,” she told reporters after the signing of a memorandum of understanding (MoU) on research collaboration between SME Corp and UPM yesterday.

Also present was UPM Vice-Chancellor Professor Datin Paduka Dr Aini Ideris.

The research is aimed at gaining better insights in measuring inter-dependencies among SMEs and large firms in various industries in Malaysia, as well as the multiplier impact from domestic demand and trade.

It would also enable the parties to identify pertinent linkages among key economic sectors and sub-sectors of the SMEs.

Meanwhile, Hafsah said, the SME Corp hoped that Budget 2018 would be more conducive to encourage the growth of SMEs in the country.

“We also hope that it would consider providing tax exemptions in several areas which would be able to boost the growth of SMEs.

“If the SMEs are working towards adopting automation to increase productivity and minimising dependency on foreign labour, it would be good to reward them by providing additional tax perks,” she said. — Bernama