KUALA LUMPUR: Malaysia’s success will depend on its ability to help more small and medium enterprises (SMEs) grow into key industry players and penetrate international markets, said Prime Minister Datuk Seri Anwar Ibrahim.
He said that although there remained a wide gap between SMEs, their capabilities and contributions were significant.
“But if we can help tens of thousands of SMEs rise to become important industry players, leveraging their tenacity, innovation and creativity, and succeed in penetrating international markets, that will be the determinant of our success,” he said at the Industry Excellence Award Ceremony (AKI) 2026 at Menara MITI here tonight.
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Anwar, who is also Finance Minister, said the country’s strength lay in its large number of SMEs and their cooperation with major companies.
He said that, following recommendations from the Ministry of Investment, Trade and Industry (MITI), particularly its minister, Datuk Seri Johari Abdul Ghani, the Ministry of Finance had placed strong emphasis on SMEs in Budget 2027 through initiatives including loan financing, research funding and other incentives.
He said bold and positive steps had been taken to ensure the Budget focused on strengthening the capacity of small and medium-sized industries.
Anwar said the initiatives announced in the recent Budget took into account proposals and feedback from industry players, which were evaluated against the country’s capabilities.
He also stressed the need to upgrade and modernise the industry, saying efforts to raise the economy’s level could not rely on outdated approaches.
He said the dynamic nature of industry required a readiness to embrace rapid change, adding that MITI’s leadership had demonstrated a more open attitude and a willingness to move beyond old norms and ways of thinking.