PUTRAJAYA: Launched by the Prime Minister yesterday, the SME Masterplan has proposed six high impact programmes, reinforced by other key initiatives to boost the small and medium enterprise sector within the next eight years.
The six programmes devised are the integration of business registration and licensing, the technology commercialisation platform, SME investment programme, going export programme, catalyst programme and inclusive innovation to empower the 40% of lowest income earners.
These programmes would enable the sector to achieve what is set out in the masterplan, based on a new SME development framework.
Under the new SME development framework, the masterplan targets to increase new businesses by 6% per year and the number of high growth and innovative firms by 10% per year while raising labour productivity from RM47,000 (2010) to RM91,000 and speed up the formalisation of businesses by reducing the informal sector to 15% gross national income from 31%.
The SME Masterplan also aims to expand SME’s share in national employment and exports to 62% and 25% from the current 59% and 19%.
Prime Minister Datuk Seri Najib Tun Razak said “the plan will prioritise delivery through development of an evaluation mechanism and monitoring to reach the targeted goals”.
“For this purpose, the role and function of SME Corp needs to be strengthened
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