pic by RAZAK GHAZALI
THE government’s allocation in the 2020 budget for entrepreneur development will spur more exports from Malaysia, said Malaysia External Trade Development Corp (Matrade).
Matrade lauds the government’s move to encourage exports by making RM1 billion in customised packaged investment incentives yearly for over five years as pro-business.
CEO Datuk Wan Latiff Wan Musa (picture) said the allocations for entrepreneurship development, capability building and financing for SME Corp Malaysia, SME Bank, TEKUN Nasional and Unit Peneraju Agenda Bumiputera will lead to the ultimate goal in the future — exports.
“As businesses will grow and innovate, including start-ups under SME Corp will be looking at exports as their eventual objective, so we are encouraged with the Budget 2020 announcement and in our opinion, it is a very pro-business approach.
“Looking at every segment of our society, small and medium enterprises (SMEs) are heavily involved in the halal sector, which is one of the biggest focuses when we’re looking at exports,” he said at the National Export Day 2019 (NED2019) media briefing in Kuala Lumpur yesterday.
Wan Latiff expressed hope for these agencies and institutions to work alongside Matrade to further amplify the local SMEs’ exports powers.
“We have 46 officers worldwide, wealth of information and expansive database on global trends for certain sectors and potential buyer information that they can leverage on.
“As of now, we are a trade-reliant economy, which makes us open to any trade impact, including the trade war between the US and China,” he said.
“Recently, there was a forecast by the minister of finance projects a growth of 0.1% in export this year, reflecting the current economic situation.
“This is because there is a high-base effect from us having reached RM1 trillion in 2018 for total trade, and to reach the same amount, while being faced with the trade war, both add up to the difficulty,” he said.
As of August, Malaysia’s total trade reached RM1.21 trillion, while the nation’s trade surplus was valued at RM10.92 billion, which was a 655.2% increase year-on-year, marking the 262nd consecutive months of trade surplus since 1997.
Meanwhile, the NED2019 is expected to further mobilise the Malaysian exporter community and grow their global footprint.
The event themed “Sustainability and Inclusiveness” will be held at Menara Matrade on Oct 24, which is expected to attract SMEs, mid-tier companies and government-linked companies from various segments.
The proceedings will also be live-streamed to all of Matrade’s state offices, including the ones in Sabah, Sarawak and around the world.
Speakers at the event include Minister of International Trade and Industry Datuk Darell Leiking, Ficus Venture Capital Sdn Bhd co-founder Rina Neoh and Chinese University of Hong Kong law professor Lim Chin Leng.