News & Events

[ 02-05-2013 ]
SMEs seen contributing 33% to GDP this year

PUTRAJAYA: SME Corp expects local small-and-medium enterprises’ contribution to the country’s gross domestic product (GDP) this year to grow to 33%, considering its current growth momentum and the country’s healthy economy.

Chief executive officer Datuk Hafsah Hashim said the healthy Malaysian economy has allowed the sector to consistently exceed the economy’s growth rate, showcasing the country’s SMEs as a force to be reckoned with.

“In 2011, the sector’s contribution to GDP amounted to 32.5% and we are on track to achieve the target of 40% GDP contribution by 2020 through the SME masterplan,” she told reporters here yesterday.

She was speaking to reporters after the soft launch of the fourth Global Entrepreneurship Summit (GES) 2013, to be hosted by Malaysia in October.

Hafsah noted that if the local economy grew at 5.5% this year, the SME sector would be able to grow between 6.5% and 7%.

On the GES, she said it was a platform for entrepreneurs to share experience, showcase their capabilities in doing business and network with other entrepreneurs. — Bernama

“This platform, this time around hosted by Malaysia, will allow local entrepreneurs the opportunity to take part in business matching sessions with international SMEs,” she added.

Topics to be discussed at the summit include women entrepreneurs, information communications and technology, start-up companies and the halal industry. — Bernama