Kuala Lumpur: The launch of a strategic initiative worth RM211 million by Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) is set to support the sustainable and inclusive growth of the micro, small, and medium enterprises (MSMEs) segment. Finance Minister II Datuk Seri Amir Hamzah Azizan announced the initiative, highlighting the government’s commitment to bolstering the MSME sector through various strategic efforts.
According to BERNAMA News Agency, the government has already tasked SME Bank with leading several strategic initiatives, with an allocation exceeding RM1 billion for 2025, including this new initiative. “The launch of these strategic programmes by SME Bank is to realise the government’s desire and aspiration to stimulate SME-driven growth, strengthen the resilience of the domestic economy, and subsequently help maintain investor confidence in Malaysia,” Amir Hamzah stated during the launch event of the 2025 Budget Initiative organised by SME Bank.
The initiative was launched by Amir Hamzah and witnessed by the Minister of Entrepreneur Development and Cooperatives, Datuk Ewon Benedick. It focuses on key areas such as technology, environment, social, and governance (ESG), tourism, and halal sectors, aligning with national priorities outlined in the National Energy Transition Roadmap and the New Industrial Master Plan 2030. “This reflects the country’s future direction towards a more modern, sustainable, and competitive economy,” he added.
In line with the MADANI economic framework, this initiative aims to reinforce the government’s efforts to strengthen the MSME financing ecosystem, drive growth in the manufacturing, industrial sectors, and emerging sectors, promote digitalisation among local entrepreneurs, and ensure a balance between economic progress and social sustainability.
Amir Hamzah also announced that SME Bank will become part of the Malaysian development bank group starting May 1, 2025. “I believe the rationalisation of development financial institutions involving Bank Pembangunan Malaysia Bhd, SME Bank, and EXIM Bank will create synergy, enabling more efficient capital distribution through a strengthened development financing ecosystem – delivering greater impact on a larger scale,” he said.
He emphasized that integrating the capabilities of these financial development institutions will enhance the effective implementation of key national economic policies and foster a more comprehensive and meaningful impact on the overall MSME ecosystem. “The process also opens up opportunities for targeted approaches, a more strategic focus, and more efficient resource mobilisation in supporting the growth and competitiveness of SMEs at both domestic and international levels,” Amir Hamzah concluded.