PETALING JAYA: More incentives and initiatives could have been given to local SMEs in Budget 2024 to spur their recovery and the domestic economy, acc...
The SME Association of Malaysia president says the government should introduce more grants for exporters to help local SMEs and boost the overall economy. – BernamapicMore incentives and initiatives could have been given to local SMEs in Budget 2024 to spur their recovery and the domestic economy, according to Small and Medium Enterprises Associations.
“Contribution from SMEs as a percentage of gross domestic product rose by only 1.3%, not a significant increase. This shows that the recovery is still rather flat. We need to continue to stimulate domestic demand for SMEs. “This is something that we are not keen to have as we are looking for reduction not increase,” he said.
He added that the interest rate imposed is unclear albeit he has proposed for it to be set at 2% to help in the automation and digitalisation of SMEs.
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