Malaysian Ministrer of Entrepreneur Development and Cooperative (MEDAC) Datuk Ewon Benedick (middle),SME president Ding Hong Sing (right) at the Grand Launching of Platinum Business Award 2023, June 15, Kuala Lumpur (Photo:nst.com.my) Kuala Lumpur (VNA) – Malaysian Ministry of Entrepreneur Development and Cooperative (MEDAC) is consistently monitoring the progress of entrepreneurs and cooperatives in Malaysia, Minister Datuk Ewon Benedick has said.
According to the minister, for the year 2023, the ministry has outlined 24 strategies and 185 programmes nationwide that would benefit more than 500,000 micro, small and medium enterprises (MSMEs) in Malaysia.
Speaking at the Grand Launching of Platinum Business Award 2023, organised by the Small and Medium Enterprises Association of Malaysia (SME Malaysia) at MITEC Kuala Lumpur on June 15, the minister encouraged entrepreneurs and cooperatives to sell their products and services on digital platforms in order to expand their market access and boost the economic growth of the nation.
He revealed that the ministry introduced a free digital entrepreneurship ecosystem development platform, called MyMall, to facilitate the expansion of local MSMEs to digital platforms.
A strong entrepreneurship ecosystem will definitely promote innovation and contribute towards the economic development of the nation, he emphasised.
Meanwhile, SME president Ding Hong Sing mentioned current challenges that SMEs are facing such as lower profit margin as they have to refuse big orders due to labour shortage post COVID-19 pandemic.
Besides domestic SMEs, Malaysia is expanding the award to foreign ones in an attempt to boost economic relations with partners such as China, Indonesia, Vietnam, Cambodia, Taiwan (China) and the Republic of Korea, among others.
First launched in 2002 by the SME Malaysia under the instruction of MEDAC, the annual aims to honour SMEs and individuals for their outstanding achievements and contributions.
The award will be announced in November this year./.
