KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (Medac) via its agency SME Corporation Malaysia has launched two new programmes, SMEs Go Global and SME Co-Investment Partner (SCIP), to enhance the SMEs' access to financing and markets. Its Minister, Datuk Seri Mohd Redzuan Yusof, said the programmes were in line with the Shared Prosperity Vision (SPV2030) agenda under the Business and Industry Ecosystems thrust with the objective of increasing SMEs' contribution to 50 per cent of the gross domestic product (GDP).It was also in sync with the National Entrepreneurship Policy 2030 (NEP 2030) which aimed to enhance access to financing, develop a holistic financial inclusive system for SMEs, and provide facilitation toward innovation and digitalisation, as well as internationalisation of SMEs, he said."The programmes are expected to become the catalysts to achieve the NEP 2030 target to increase SME contribution to the nation's exports from 17.3 per cent in 2018 to 30 per cent in 2030," he said during his address at the official launch here, Thursday.The event also witnessed the exchange of a Memorandum of Collaboration between SME Corp and Huawei Technologies Malaysia Sdn Bhd.Also present were MEDAC Secretary General Datuk Wan Suraya Wan Md Radzi, SME Corp chairman Datuk Seri Syed Hussien A1 Habshi, SME Corp chief executive officer (CEO) Azmi Mat Said and Huawei Malaysia CEO Michael Yuan..Elaborating on the programmes, Azmi said SCIP, which allocates an initial funding of RM15 million, was a joint financing initiative between the government and private sector."The programme has so far listed four fund management firms as investment partners. We hope more investors will join and cooperate with the SMEs at this initial stage."SCIP offers equity and loan financing, targeting SME startups which have been in
operations for one to three years in all sec- tors including main street firms which have high growth potential and are innovative, and also those in emerging sectors," he said. Earlier, he said SME Corp through a similar investment programme, SMF Investment Partner (SIP), had provided KM90 million in funds, but was limited In only two partners, as well as in its scope and preference."We will monitor the progress of SCIP, if the funds are utilised quickly, there's a possibility that these two programmes will be merged."We are targeting 10 investments this year worth from RM5oo,ooo to RM3 million each, depending on requirements," he said.On the Go Global programme, Azmi said the programme scope spanned preexport product preparation, online market participation in the country's market, logistics and market linkages, prototype manufacturing and others. - Bernama
