JOHOR BARU: Local micro, small and medium enterprises (MSME) recorded double digit growth in gross domestic product (GDP) of 11.6% in 2022, says SME Corp Malaysia CEO Rizal Nainy (pic).

He added that based on data from the Statistics Department Malaysia, this was very encouraging growth.

“This is a significant increase compared to 1.3% growth by MSMEs here in 2021,” he said in his speech during the southern region micro Madani tour held at a hotel here on Tuesday (Oct 10).

Rizal added that the growth was more than Malaysia’s overall GDP recorded during the pre-Covid-19 pandemic period.

He said such data clearly showed that MSMEs played an important role in the country’s economic recovery and growth.

“Despite its size, MSMEs in Malaysia are generally more resilient and have the potential to recover faster than large companies.

“Under the Madani economic framework, which was launched by Prime Minister Datuk Seri Anwar Ibrahim on July 27, the government remains consistent and committed to give special focus and attention to the development of MSMEs to drive national economic growth,” he added.  --The Star