Report: “Govt to focus on SMEs in Budget 2024,” says Finance Minister II

FINANCE Minister II Steven Sim Chee Keong said the government will train its focus on small and medium enterprises (SMEs) in Budget 2024.

Sim said this was one of the key performance indicators (KPI) set by Prime Minister Datuk Seri Anwar Ibrahim.

While foreign direct investment (FDI) is important for the nation’s economy and the government will continue to increase efforts to attract more FDIs into the country, Sim said domestic direct investment (DDI) is also a crucial component in the country’s economic development, with one of these DDIs is from the SME sector.

“It is one of the KPIs that the government is focusing on at this time,” he was quoted as saying by Bernama after inaugurating Allianz Asia’s regional delivery centre in Kuala Lumpur today (Oct 4).

Sim, who is also the Bukit Mertajam MP, said focus will be given to SMEs as the sector needs plenty of support from various parties, especially from the government.

“Malaysian businesses, especially SMEs, face many obstacles and are in the recovery process after being hit by the COVID-19 pandemic a few years ago, so the focus needs to be on making the sector more sustainable for the country’s economic growth,” he remarked. – Oct 4, 2023


Main pic credit: Bernama

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