Malaysia strengthens SME development cooperation with Arab countries
KUALA LUMPUR: Ministry of Entrepreneur Development and Cooperatives (MEDAC) aims to strengthen Malaysia’s SMEs development with 17 Arab countries namely Algeria, Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, UAE and Yemen.
In a press statement, MEDAC minister Tan Sri Noh Haji Omar said: “Acknowledging the importance of SMEs in our economies, we should continue to foster, strengthen, and deepen bilateral economic, trade and investment linkages, with SMEs taking the centre stage.”
To kickstart the collaboration, SME Corp Malaysia seeks to establish a memorandum of understanding (MoU) with two of its counterparts, namely the SMEs Development Agency of Oman and the Small Enterprise Development Fund of Yemen to strengthen bilateral relations related to the development of SMEs. Through this formalisation of cooperation, SMEs from the countries will benefit from the exchange of information and implementation of activities in promoting SMEs which will be lined up in the near future.
Against this backdrop, the SME Corp chief executive officer Rizal Nainy informed that international buyers from the Middle East as well other parts of the world now can easily source for the products and services of Malaysian SMEs through MatchME platform.
Introduced since June 2021, MatchME is a digital platform connecting SME companies with anchor companies such as MNCs, GLCs, supermarkets and large companies locally and internationally. Since inception, a total 740 MSMEs as well as 93 MNCs and large companies from Malaysia and abroad have participated in virtual business matchings through this platform, successfully generating a sum of RM38 million in potential sales.
This MatchME platform is one of the key components of a larger initiative called MyAssist MSME that provides an online stage for MSMEs to seek business advisory and information, guidance and digital marketing opportunities. Led by SME Corp. Malaysia, via MEDAC, the MyAssist MSME has been instrumental in assisting MSMEs to solve their businessrelated problems and issues in the new norm.
On a separate note, Noh announced that MEDAC and SME Corp will be leading a total of 18 Malaysian start-ups and SMEs to participate in the Expo 2020 Dubai starting from February 13 to 19, 2022. Inviting all business visitors to the Malaysia Pavillion at the expo, he informed that these enterprises will be showcasing the state-of-the-art technologies and solutions up for grabs by keen investors and business partners.