Business

Thursday November 5, 2009

PM: RM3bil allocated to enhance SMEs this year


KUALA LUMPUR: The Government has allocated RM3.04bil this year to enhance the capabilities of small and medium enterprises (SMEs), Prime Minister Datuk Seri Najib Tun Razak said.

A total of 174 programmes, including 17 new ones, would be implemented to help the SMEs, he added. Najib said the focus of the SME development programmes would be on building capacity and help them overcome key challenges.

He added SME Corp would introduce a new impact analysis framework to closely track the running of the programmes. Najib said for last year, 202 programmes worth RM3bil were carried out which benefited 598,000 SMEs. The figure was twice the number of beneficiaries in 2007.

“All these initiatives bear testimony to the Government’s firm commitment to continue developing SMEs using new approaches.

“SMEs will be developed based on three strategic thrusts – strengthening their infrastructures, develop their capacities and capabilities, and increase access to financing,” he told reporters after launching the 2008 SME annual report at Parliament House yesterday.

Najib said the programmes would transform local SMEs into playing a bigger role in creating a high income economy. “More effort will be made to encourage innovation, higher productivity, creativity and produce a knowledgeable workforce,” he said.

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