Matrade’s MTCDP to record 10-15 export growth this year
KUALA LUMPUR: The Malaysia External Trade Development Corporation ( Matrade) is confident that the Mid-Tier Companies ( MTCs) will achieve export growth of 10-15 per cent this year, supported by 23 new companies under Wave 4 of the Mid-Tier Companies Development Programme (MTCDP).
Last year, export revenue from Wave 1, 2 and 3 of the MTCDP grew by 10.4 per cent to RM6.82 billion in 2016 as compared to RM6.18 billion in 2015.
“We remain confident of achieving our target even tough the number of companies for this year are slightly lower compared to 51 companies last year.
“This is because we have conducted stringent regulations on the participating companies, including only export-ready companies with a certain annual revenue recorded on yearly basis,” Chief Executive Officer Dr Mohd Shahreen Zainooreen Madros told reporters here, yesterday, after launching Wave 4 of MTCDP and completion of Wave 3.
He said the MTCDP had targeted companies with annual revenue of between RM50 million and RM500 million for manufacturing companies and RM20 million to RM500 million for services companies.
The programme aims to build the export capability of the local MTCs.
This, he said was crucial in sustaining Malaysia’s export performance since the MTCs had stronger capabilities to export but some might lack the know-how in exporting and might not have the right market intelligence to grow their business abroad.
He said due to budget constraints, Matrade had to maintain just a small number of companies in the programme although it received an overwhelming response. — Bernama