Grab opportunities in recalibrated Budget, Bumiputera SMEs urged

Grab opportunities in recalibrated Budget, Bumiputera SMEs urged

KUALA TERENGGANU, Jan 31— Bumiputera small and medium enterprises (SMEs) have been urged to grab the opportunities in the recalibrated Budget 2016 announced by Prime Minister Datuk Seri Najib Tun Razak recently.

In making the call, Tunas Usahawan Belia Terengganu (PATUT) president Amir Long said the SMEs should take advantage of government programmes like the ‘Mid-Tier’ and ‘Go-Export’ schemes to help them penetrate overseas markets.

“I believe the Mid-Tier programme by SME Corp Malaysia could help better prepare Bumiputera SMEs for the Trans-Pacific Partnership Agreement and the ASEAN Economic Community.

“The RM40 million allocation could enable over 100 Bumiputera SMEs to export overseas,” he told Bernama today.

Amir said the SMEs should focus not just on the domestic market but also identify opportunities overseas including in ASEAN, noting that Exim Bank Bhd has increased its financing funding by RM500 million to extend credit guarantees to small SMEs.

Amid the fall in crude oil prices and the ringgit’s value, the government is looking at ways to raise local SMEs’ contribution to Gross Domestic Product to 23 per cent in 2020 from 17.6%, he said.

— BERNAMA

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