MED plans to further strengthen micro, small and medium enterprises



The Ministry of Entrepreneur Development (MED) plans to further strengthen the micro, small and medium enterprises (MSMEs) through more skills development programmes that in line with the Industrial Revolution 4.0.

Thus, its Deputy Minister Mohd Hatta Md Ramli (photo, above) hoped the government would allocate a bigger allocation for the ministry in Budget 2020 to allow it to meet the target and eventually enable the sector to create job opportunities for the people.

"We are looking at new approaches, where it will not only improve the capabilities of the entrepreneurs but also enable them to provide training and expose students, especially school leavers to their businesses and industries,” he told reporters after delivering his keynote address at the launch of the OIC Arab-Asia Trade & Economic Forum 2019 in Kuala Lumpur today.

The three-day forum till Sept 6, is held in conjunction with the 9th Muslim World Biz 2019, Business and Investment Zone.

Mohd Hatta said the ministry, which has 10 agencies under its purview, was allocated RM489 million in Budget 2019, the lowest among ministries.

On a related matter, he said the MED was currently working on some initiatives to attract international investors, including organising trade missions for SMEs to countries namely, Indonesia, China and Thailand, in line with the country’s vision to become an entrepreneurial nation by 2030.

Meanwhile, chairman of Muslim World Biz and chief executive officer of OIC International Business Center, Muhammad Raja Talib Raja Mohamad Abdullah said the forum aims to drive a long-term development and economic growth among the Organisation of Islamic Cooperation (OIC) member countries.

He said this was in line with the OIC’s 10-Year Plan of Action with a target to increase the intra-OIC trade to 25 percent of the total OIC trade, by 2025.

"Currently, it contributes 16 percent, mainly from the halal products, technology and investments in infrastructure," said Muhammad Raja Talib.

He also said the event, which focuses on the cooperation between the Arab and Asian countries, is showcasing products and services by exhibitors from 40 countries with an expectation of 500 business matching, mainly in the agriculture, halal, banking and cosmetics sectors.  

- Bernama

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