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Given that the sector is one of the engines of growth for the country’s economy, the Government is steadfast on its commitment to develop a thriving and efficient SME sector and to help them realize their full potential. It is heartening to note that SMEs in the manufacturing sector recorded a 5.3% productivity growth in 2007.
As the world’s economy is currently facing great inflationary pressures and uncertainties in the financial markets, it is imperative for SMEs to shift towards productivity-driven growth. They also need to embrace effective management skills in order to stay above the inevitable challenges that come their way and to be resilient at all times. Another aspect that must be looked into is for SMEs to start building their brands and maintain their brand positioning. This will require them to have their own unique strategies to accomplish their brand missions and visions. Malaysia needs to have a strong pool of brands to strengthen our image, and SMEs are the answer as they form the majority of business enterprises in the country.The Government is cognizant of the adverse effects of rising costs on the operations of SMEs and has introduced several measures to assist local SMEs in alleviating their financial burden. One such measure is a special fi nancing scheme that comprises two new funds totaling RM1.2 billion to help SMEs cope with rising costs. The RM700 million SME Assistance Facility is intended to assist SMEs that are facing financial diffculties to restructure their loans and to overcome temporary cash fl ow problems, while the RM500 million SME Modernisation Facility is specifically to finance the upgrade of machinery and equipment and the purchase of energy-saving equipment.
In addition, the National SME Development Council, which I chair, has approved the re-designation of the Small and Medium Industries Development Corporation (SMIDEC) into the SME Corporation Malaysia (SME Corp). From January 2009, SME Corp. will function as a dedicated SME agency that will drive the SME development agenda across all sectors. SME Corp. will also serve as the central point of information,
reference and advisory services for all SMEs. The establishment of a dedicated SME Agency represents a major structural enhancement to this sector’s development agenda towards the creation of competitive and resilient SMEs.
The publication of the 8th edition of the SME Business Directory serves to complement the Government’s effort as a useful source of information for SMEs. I would like to take this opportunity to congratulate the SMI Association of Malaysia and Tourism Publications Corporation Sdn Bhd for their effort in publishing the Directory.
From,
Dato' Seri Abdullah Haji Ahmad Badawi