KOTA TINGGI, July 4 — Micro, small and medium enterprises (MSMEs) remain the backbone of the national economy, accounting for 97 per cent of all business transactions in Malaysia, said Deputy Prime Minister Datuk Seri Ahmad Zahid Hamidi.
He said data from the Statistics Department (DOSM) show the sector not only drives economic growth but accounts for about 52 per cent of the gross domestic product (GDP).
"More than 50 per cent of jobs are generated by the MSME sector," he told reporters after officiating the Rural and Regional Development Ministry’s (KKDW) entrepreneurship here today.
Defence Minister Datuk Seri Mohamed Khaled Nordin was also present.
Zahid said the government has demonstrated its commitment to the sector by allocating up to RM40 billion to boost the competitiveness of local entrepreneurs.
He praised the Johor government’s proactive initiatives to develop more micro, small and medium entrepreneurs, who have contributed to the state’s industrial and economic development.
He said Johor’s 8 per cent growth rate, above the national average of 5.2 per cent, reflects the effectiveness of the state government’s policies in drawing investment and expanding economic activity.
“This is a strong achievement, supported by political stability and good leadership in Johor,” Zahid added.
