SHAH ALAM, June 20 — The expansion of the Selangor Advance (SA500) with a RM100 million allocation under Phase 2 of the Selangor Resilience Enhancement Package (SREP) will ensure small and medium enterprises (SMEs) keep growing amid current economic challenges, said Lembah Jaya assemblyman Syed Ahmad Abdul Rahman Alhadad.
He added that SMEs are the state and country’s economic backbone as they contribute nearly 40 per cent to the national GDP and provide nearly half of Malaysia’s jobs.
“SMEs are Selangor’s small economic engines. They may be tiny when viewed individually, but when hundreds of thousands of enterprises move together, they become the power that moves the national economy.
“This proves that the country’s economic future is built by those who work hard every day, often without recognition, and that’s why I welcome initiatives like Selangor Advance, or SA500, and various financing schemes introduced by the state government.
“This is because when we help SMEs, we’re not just helping businesses. We’re protecting jobs, families, and the future of the state,” he said when debating SREP Phase 2 at a special Selangor State Legislative Assembly sitting here yesterday.
Syed Ahmad also said SREP plays an important role in helping the people and businesses face economic challenges.
He explained that under SREP Phase 1, the state government fortified safety nets for the people with initiatives including Ehsan Rahmah Sales, Kita Selangor vouchers, a public transport fare subsidy, free breakfast for some students, and the Selangor Food Warehouse (GMS).
“The government then stepped further with Phase 2, which focuses on industries and businesses, entrepreneurs and youth, vulnerable groups, Selangor’s children, and civil servants.
“This isn’t just an aid package or collection of figures, but an administrative philosophy that makes the people’s well-being a main goal of the government’s policies,” Syed Ahmad said.
Yesterday, Menteri Besar Dato’ Seri Amirudin Shari announced the expansion of the SA500 with an additional RM100 million allocation to assist with the cash flow of companies involved in state, district and local government infrastructure projects.
Amirudin said the initiative is set to benefit around 500 companies and contractors conducting business in Selangor.
