MTDC and SME Corp Collaborate to Empower Malaysian SMEs in the Export Market
- by XM Admin
KUALA LUMPUR, January 2 – In a significant move to bolster the growth of Malaysian Small and Medium Enterprises (SMEs), the Malaysian Technology Development Corporation (MTDC) and SME Corporation Malaysia (SME Corp) have formalized their collaboration through a Memorandum of Understanding (MoU). This strategic partnership aims to synergize the strengths of both entities, providing entrepreneurs with access to technologies, guidance on navigating challenges, and opportunities to expand market reach through exports. With a commitment to fostering innovation and competitiveness, the collaboration reflects a dedicated effort to support SMEs in elevating their presence both domestically and internationally.
SMEs, constituting 97.4% of all business entities in Malaysia, play a crucial role in the nation’s economy, contributing 38.4% to the GDP and employing over 7.5 million individuals. Despite their significance, Malaysian SMEs accounted for only 10.5% of the export market in 2022, according to the Department of Statistics Malaysia (DOSM). To address this gap, the collaboration introduces the ‘Transforming SMEs into Exporters (TSMEX)’ program, offering a two-phase initiative involving training sessions, workshops, advisory services, and handholding activities. MTDC’s CEO, Ts. Hj Mohammad Hazani Hj Hassan, highlighted the partnership’s potential to prepare local SMEs for the export market.
While SME Corp’s CEO, Rizal Nainy, emphasized the commitment to empower SMEs, contributing to their growth and success in the global market. The TSMEX program, executed by MTDC’s training academy, Technopreneur Training Academy (TENTRA), commences with a seven-day training program for 300 companies, followed by a three-month intensive program for 30 selected SMEs. Beginning in January 2024 and concluding by September 2024, the initiative aims to equip SMEs with the knowledge and strategies necessary to navigate international trade complexities and enhance their competitiveness on a global scale.