GLCs urged to give stronger support to SMEs

SUNGAI PETANI, Sept 5 — Government-linked companies are urged to give stronger support to the small and medium enterprises (SMEs) rather than relying on imported products to fulfil their needs.

Deputy Finance Minister Datuk Wira Ir Amiruddin Hamzah said this is crucial to support the government’s efforts in ensuring that the SMEs remain competitive.

“We hope the SMEs’ contribution to the country’s gross domestic product (GDP) would rise from 38 per cent currently to 40 per cent by 2020 and, if possible, eventually to between 70 and 75 per cent of GDP, as seen in developed countries.

“We provide a good ecosystem to ensure the SMEs can move forward and contribute towards job opportunities for the locals,” he told reporters after launching the export of the 200,000th unit of flexitank (a liquid cargo container) by My Flexitank Industries Sdn Bhd (MYF) today.

He said SMEs that are expanding well, can boost the government’s earnings in terms of taxes paid, which would be used to improve the people’s welfare.

MYF was established in 2006 with the vision of producing the best flexitank in the world.

The principal business of MYF is to design, produce and market innovative bulk packaging solutions to various industries such as palm oil, food as well as natural rubber and synthetic latex. — Bernama

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