SME Corp expects to see local small-and-medium enterprises’ contribution to the country’s gross domestic product (GDP) to grow to 33 per cent in 2013, taking into account its current growth momentum and the country’s salubrious economy.
According to Chief Executive Officer of SME Corp, Datuk Hafsah Hashim, the conducive Malaysian economy has allowed the sector to consistently exceed the economy’s growth rate, proving that the country’s SMEs are a force to be reckoned with.
Speaking to reporters after the soft launch of the fourth Global Entrepreneurship Summit (GES) 2013; slated to be hosted by Malaysia in October, Hafsah said, “In 2011, the sector’s contribution to GDP amounted to 32.5 per cent and we are on track to achieve the target of 40 per cent GDP contribution by 2020 through the SME masterplan.”
She noted that if the local economy grows at 5.5 per cent this year, the SME sector would be able to grow between 6.5 per cent and seven per cent. Hafsah asserted that the GES is a platform for entrepreneurs to share their experience, showcase their capabilities in doing business and network with other entrepreneurs.
She added that the platform will proffer local entrepreneurs with the opportunity to partake in business matching sessions with international SMEs. Topics to be discussed at the summit include women entrepreneurs, information communications and technology, start-up companies and the halal industry.