SMEs expected to recover

Date:

spot_img

SMALL and medium enterprises (SMEs) are expected to recover and continue to contribute significantly to Gross Domestic Product (GDP), exports and employment.

Deputy Premier cum International Trade, Industry and Investment Minister Datuk Amar Awang Tengah Ali Hassan said that with the timely provision of assistance (both financial and non-financial) from the federal and Sarawak governments, the activities in all economic sectors would resume.

“SMEs are the backbone of Malaysia’s economy including in Sarawak, and contribute significantly to the national GDP, exports and employment.

“However, the economic repercussions arising from the unprecedented COVID-19 pandemic and the implementation of MCO had also impacted the performance of SMEs in 2020,” Awang Tengah pointed out during his ministerial winding up at the DUN sitting yesterday (May 26).

According to him, Malaysia’s GDP was RM1.42 trillion in 2019 but contracted 5.5 per cent to RM 1.34 trillion in 2020.

“Over this difficult period, the contribution of SMEs to Malaysian GDP decreased from RM553.5 billion in 2019 to RM512.8 billion in 2020.

“Total exports by SMEs also decreased from RM176.3 billion in 2019 to RM117.8 billion in 2020, while the SMEs’ employment declined from 7.3 million in 2019 to 7.2 million in 2020.”

Teenage trekkers found safe by rescuers

BINTULU: Six teenage boys who lost their way while trekking through the jungle near Sekolah Jenis Kebangsaan (SJK) Chung Hua No 2, Jalan Nyabau,...

Share post:

Our Opinion

More like this
Related

Croc found hooked on fishing rod in Miri

MIRI: A crocodile weighing approximately 50kg was found hooked...

Teens rescued after losing their way while jungle trekking

BINTULU: Six teenage boys, who lost their way while...

13-year-old boy found drowned in lake

SARIKEI: A weekend activity with a friend turned tragic...

Man nabbed for allegedly selling illegal lottery

BAU: Police here arrested a local man for allegedly...

Padawan raft safari to go international

PADAWAN: The Ministry of Tourism, Creative Industries and Performing...

Sarawak motifs inspire young artist

KUCHING: Sarawakian, Hilton Moore Mission’s aspiration to venture into...

Finas exchanges ideas with local players

KUCHING: The National Film Development Corporation of Malaysia (Finas)...

Chamber proposes convention centre in Miri

MIRI: The Chamber of Sarawak Bumiputera Entrepreneurs (DUBS) here...

Jeniri appointed UMS panel advisor

KUCHING: Senior fellow of the Malaysian Council of Professors...

PBB new wing awaits RoS nod

KUCHING: Parti Pesaka Bumiputera Bersatu (PBB) is now waiting...

State not letting up on education autonomy

KUCHING: Negotiations are still ongoing with the federal government...

SUPP rallies members to develop together

BINTULU: Sarawak United People's Party (SUPP) secretary-general Datuk Sebastian...