Key advices to survive in a competitive market

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To succeed in the current globalising environment the Malaysian SME will need to strive towards achieving greater competitiveness at a global level. There has to be a shift from knowledge based industries to more innovation centeredness. By leveraging on the core values of creativity, innovation and high skills, our SMEs will make great strides towards creating and building a unique and strong Brand Malaysia.

We need a competitive edge mindset

To survive in today’s increasingly competitiveness and challenging global economic environment, our SMEs need strong capabilities and competitive edge. They need to adapt to current trends and adopt the strategy of utilizing the latest technology, skills and know-how to develop differentiated products fast and good.

Innovation is the key

The leaders have been emphasising innovation as a main agenda in facing the current challenges and to seize open opportunities in the knowledge economy. The economic meltdown has created alarming conditions for R&D and innovation-led businesses where risk capital is scarce, which has placed R&D investments at lower priority.

A key task of the government is to assist our SMEs on their quest to go global. This is done through bilateral, regional and multilateral engagement. All government agencies are also engaged in endeavours to widen access of Malaysian companies into non-traditional markets and to promote trade diversification and investments in new growth areas.