BUSINESS

MID-TIER COMPANIES IN MTCDP MAKE SIGNIFICANT EXPORTS GROWTH - MATRADE

23/01/2024 09:21 PM

PETALING JAYA, Jan 23 (Bernama) -- Local mid-tier companies (MTCs) which participated in the Malaysia External Trade Development Corporation’s (MATRADE) mid-tier companies development programme (MTCDP) have achieved significant exports growth in 2022.

MATRADE chairman Datuk Seri Reezal Merican Naina Merican said the MTCDP impact tracking report showed that these MTCs had garnered a cumulative annual revenue of RM33.90 billion in 2022, with 61 per cent or RM20.90 billion generated through exports. 

“Out of this achievement, the Bumiputera status MTCs have recorded RM5.52 billion of cumulative annual revenue, with nearly 10 per cent or RM540 million contributed by export activities,” he said in his speech in conjunction with the MTCDP graduation and kick-off agenda ceremony here today. 

The MTCDP was introduced in 2014 as one of the government’s high impact initiatives in the Malaysia Development Plan, aimed to accelerate the export growth of MTCs to become regional and global champions.  

Reezal Merican said this year, MTCDP will reach its 10th year of implementation and for the first time, this new cohort will not only have participants among the MTCs, but also prioritisation is given to the high performing medium enterprises which are actively involved in exports. 

“This demonstrates that MATRADE is committed in grooming  these enterprises in strengthening their global footprints and becoming MTCs while aligning with the Malaysia MADANI agenda and the National Industrial Masterplan (NIMP) 2030,” he said. 

According to MATRADE’s statement, MTCDP has played a pivotal role in empowering and guiding 323 MTCs across diverse sectors, providing tailored interventions to enhance export productivity. 

“This is shown through the joint ceremony hosted today, to celebrate the accomplishment of 48 MTCs from the eighth and ninth wave of MTCDP and welcoming 25 new MTCs to the new cohort, wave 10 in 2024,” it said.

Mid-tier unit deputy director Muhd Shahrulmiza Zakaria said MATRADE will continue to assist the MTCs to boost their export activities through MTCDP.

Upon completing the nine-month programme, the MTCs would be able to achieve the two core goals of the programme, namely to increase their exports and to penetrate into new markets, he told reporters on the sidelines of the event today.

-- BERNAMA

 

 

 


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