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SMEs to focus on expanding economy

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SMEs to focus on expanding economy

Post  Admin on Fri Feb 11, 2011 10:10 am

PETALING JAYA: Prime Minister Datuk Seri Najib Razak urged Malaysia's small and medium enterprises (SME) to focus on expanding the economy — and avoid pointless arguments on why the economy is split.

"We want to grow the economic cake. It is pointless fighting about how the cake is split when the real issue that needs to be addressed is how we can make bigger. We are in a world where business borders are irrelevant," said Najib at the SMI Malaysia Chinese New Year open house at SJK (C) Sg Way here this morning.

During his speech, he briefed the audience, majority from the SME community, on the newly established Special Innovation Unit (UNIK) under the Prime Minister's Department.

He said the SME community need to cope and play catch up with technology of the day, which he said is ever-expanding.

"The SME community in Malaysia is not adopting to technology as rapidly as it should be. We run the risk of being left behind, if we don't arrest and reverse this situation.

"The SME sector has to change its approach regarding innovation. Make technology adoption an integral part of your business strategy."

Najib said UNIK will help highlight new opportunities that SMEs can exploit based on locally developed innovations.

"My government wants to provide opportunities for SMEs to create new wealth. This new wealth can be maximised if our ventures are based on technological innovation. We understand the challenges faced by SMEs and we will assist in wherever possible way," said Najib.

The Agency Innovation Act 2010 was passed by Parliament last year and will lead to the setting up of Agensi Inovasi Malaysia.

- The Malay Mail, February 11, 2011

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