Small and medium-sized industry players in the country can take some breath of relieve as the federal government recently made the pledge to help SME players weather the worsening economic climate.
The New Straits Times in one of its reports recently quoted Deputy Prime Minister Datuk Seri Najib Razak as saying that relevant ministries had been directed to submit recommendations to provide the necessary assistance.
Najib said the SMEs would be assisted to face the "extraordinary" economic situation and sharp drop in demand for their products.
"We hope the relevant authorities and ministries can send in their
recommendations or proposals quickly. The government is prepared to look
into ways to help the SMEs," Najib said, as reported.
Prime Minister Datuk Seri Abdullah Ahmad Badawi recently said that the
government would continue to closely monitor global economic developments and take steps to keep the domestic economy on an even keel.
He said the government had taken pre-emptive measures to cushion the
impact by announcing a RM7 billion stimulus package alongside plans to
liberalise the services sector.
SMEs contributed 32 per cent of gross domestic product, made up 56 per
cent of total employment, and accounted for 19 per cent of total exports.
"Therefore, it is exceedingly clear that as we attempt to ride out the
storm ahead of us, we must stand committed to the development of a robust and competitive SME sector," Abdullah had said.
He further said that banks and development institutions approved RM63.2
billion in funding to over 132,000 SME accounts in 2007.
Najib also had denied that multinationals were deserting the country
due to worldwide economic uncertainties.
The New Straits Times in one of its reports recently quoted Deputy Prime Minister Datuk Seri Najib Razak as saying that relevant ministries had been directed to submit recommendations to provide the necessary assistance.
Najib said the SMEs would be assisted to face the "extraordinary" economic situation and sharp drop in demand for their products.
"We hope the relevant authorities and ministries can send in their
recommendations or proposals quickly. The government is prepared to look
into ways to help the SMEs," Najib said, as reported.
Prime Minister Datuk Seri Abdullah Ahmad Badawi recently said that the
government would continue to closely monitor global economic developments and take steps to keep the domestic economy on an even keel.
He said the government had taken pre-emptive measures to cushion the
impact by announcing a RM7 billion stimulus package alongside plans to
liberalise the services sector.
SMEs contributed 32 per cent of gross domestic product, made up 56 per
cent of total employment, and accounted for 19 per cent of total exports.
"Therefore, it is exceedingly clear that as we attempt to ride out the
storm ahead of us, we must stand committed to the development of a robust and competitive SME sector," Abdullah had said.
He further said that banks and development institutions approved RM63.2
billion in funding to over 132,000 SME accounts in 2007.
Najib also had denied that multinationals were deserting the country
due to worldwide economic uncertainties.
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