Malaysia prioritises to help COVID-19 affected SMEs
The Malaysian government is committed to continue helping small and medium enterprises (SMEs) along their recovery path in the upcoming Budget 2021, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
The Malaysian government is committed to continue helping small and medium enterprises (SMEs) along their recovery path in the upcoming Budget 2021, according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. (Photo: thesundaily)
Kuala Lumpur (VNA) - The Malaysian government is committed tocontinue helping small and medium enterprises (SMEs) along their recovery pathin the upcoming Budget 2021, said Finance Minister Tengku Datuk Seri ZafrulAbdul Aziz.
He said this would be done via continued support for digitalisation andautomation, building on the foundation laid by the Prihatin Rakyat EconomicStimulus Package (PRIHATIN), PRIHATIN SME PLUS, National Economic Recovery Plan(PENJANA), and Prihatin Supplementary Initiative Package (KITA PRIHATIN) toencourage this transition, Malaysia’s Bernama News Agency reported.
The government will also facilitate the SMEs to accelerate the adoption ofdigitalisation under Budget 2021 that will be tabled the Parliament on November6, he added.
“Records have shown that crucial technological and digital migration have yet tohit critical mass among SMEs” the news agency quoted the minister as saying.
He stressed the need to raise awareness that with digitalisation, SMEs can havea bigger market reach and go regional, and how financial institutions cansupport them in this process.
According to the minister, under Budget 2021, the government would also guideSMEs towards business resilience and sustainability, as most SMEs adoptedhigh-growth strategies in making decisions, and this left little room for themto respond effectively to economic shocks.
He suggested businesses need to balance out their priorities to help themselvesremain afloat regardless of the changing operating landscape, and said that thegovernment is looking at how sustainability can be the foundational premise onwhich SME-centric measures are crafted./.
The COVID-19 pandemic continues to leave a lasting impact on the construction industry in Malaysia, which suffered big losses during the initial phase of the Movement Control Order (MCO), the New Straits Times reported.
The Malaysian government has unveiled another economic stimulus package worth 10 billion RM (2.4 billion USD) to bolster the country's economy and weather the impact of COVID-19.
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The Malaysian government is committed to continue helping small and medium enterprises (SMEs) along their recovery path in the upcoming Budget 2021, according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. (Photo: thesundaily) 
