KUALA LUMPUR (July 13): Malaysia External Trade Development Corporation (MATRADE) eyes to achieve a cumulative export increase of RM5 billion by 2025, to be contributed by 380 Mid-Tier Companies (MTC) under its Mid-Tier Companies Development Programme (MTCDP).
Chief executive officer Datuk Mohd Mustafa Abdul Aziz said the MTCDP, which was launched in 2014, is the only high-impact exporters’ development programme in Malaysia’s five-year development plan, aimed at accelerating export growth, enhancing their global competitiveness and promoting Malaysian homegrown brands in the global marketplace.
The MTCDP targets export-oriented MTCs with annual revenues of between RM50 million and RM500 million for manufacturing companies and RM20 million and RM500 million for services companies.
Since its inception, the programme has managed to outreach and groom 275 MTCs from various sectors and industries and this year, the programme will onboard another 25 well-established MTCs including 14 companies from the manufacturing sector plus 11 companies from the services sector, he told reporters at the MTCDP Wave 8 kick-off event here Wednesday (July 13).
He noted that despite consisting of only 2% of registered business establishments, MTCs are critical to the strength of the Malaysian economy, collectively contributed 40% of Malaysia’s Gross Domestic Product and support 16% of the workforce, helping communities all over the country to prosper.
“MTCDP in 2022 will be focusing on high impact and high growth industries, with greater emphasis on new elements of global competitiveness namely digitalisation and sustainability. These augurs with the 12th Malaysia Plan to regrow the economy, sustainable and inclusive growth, which will benefit the business communities on the whole.
“The development of MTCs in Malaysia will also drive the growth of micro, small and medium enterprises (MSMEs). Our MTCs can be the mentor or anchor to MSMEs in strengthening their competitiveness and business offering,” he said.
Meanwhile, deputy chief executive officer (exporters development) Abu Bakar Yusof shared that under the 11th Malaysia plan from 2016 to 2020, MTCs had cumulatively registered RM15.5 billion worth of exports, a 4% increase from the 10th Malaysia Plan achievement.
He said MATRADE is working closely with Deloitte Malaysia for this MTCDP programme, leveraging both parties' networks globally to help MTCs reach their targets.
Beyond that, he said MTCDP is aligned with the 12th Malaysia Plan (12MP) to increase inclusivity by paving the way forward for other MSMEs to bridge the gap with MTCs.
“MTCs with their global supply chain could continue to lead the way forward for our industries and be seen as a positive example to other MSMEs in growing their businesses and realising their entrepreneurial ambitions.
“This programme will positively impact the supply chain beneficiary, especially the MSMEs. In fact, this is also aligned with the 12MP aspirations, where we should not overlook the bottom line of our MSMEs in the global supply chain,” he added.
Source : The Edge Market
July 14, 2022
