Malaysia Calls For OneASEAN SME Movement To Drive Regional Growth 

KUALA LUMPUR, Oct 16 (Bernama) -- Malaysia today called for the establishment of a OneASEAN SME Movement to strengthen cooperation among small and medium enterprises (SMEs) across the region and drive inclusive economic growth.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said the initiative would serve as a regional drive to connect entrepreneurs, investors, and innovators throughout ASEAN, particularly in emerging sectors such as high technology, halal trade and digital services.

“Let this movement become the heartbeat of our regional economy, a catalyst that empowers our people, strengthens our resilience and propels ASEAN into the next frontier of growth,” he said at the opening ceremony of SME Venture@ASEAN 2025 here today.

Ahmad Zahid said ASEAN, home to a vibrant market of 680 million people, offers vast potential for more than 70 million SMEs across the region.

However, despite being the economic backbone of ASEAN, contributing 44.8 per cent to regional Gross Domestic Product (GDP) and 85 per cent to total employment, SMEs currently contribute only 18 per cent to ASEAN’s total exports.

Therefore, Ahmad Zahid said platforms such as SME Venture@ASEAN 2025 are gateways for entrepreneurs to penetrate the strong ASEAN market and to integrate more meaningfully into global value chains and regional trade frameworks.

The Rural and Regional Development Minister said the event also signifies Malaysia’s readiness to lead as an anchor nation within the ASEAN business and trade ecosystem, especially as the pace of transformation today demands agility, foresight and courage.

At the national level, Ahmad Zahid said the government remains fully committed to propelling micro, small and medium enterprises (MSMEs) to new heights of excellence and competitiveness through the MADANI Economy Framework and the National Entrepreneur Plan 2030 (NEP 2030).

He said the goal is to raise the proportion of medium-sized firms from 1.6 per cent in 2024 to five per cent by 2030, by scaling up enterprises and supporting internationalisation.

“One of the key strategies to realise this ambition is to encourage more SMEs to venture beyond borders to expand their markets, explore new partnerships and unlock growth opportunities. This means internationalisation must become the new frontier for Malaysian SMEs,” he said.

The SME Venture@ASEAN 2025, organised by the Entrepreneur and Cooperatives Development  Ministry and SME Corporation Malaysia, drew participants from 18 nations, including all ASEAN member states.

The event aims to enhance the exports of Malaysian SMEs, particularly within the ASEAN region, by bringing together key stakeholders, showcasing business capabilities, offering business matching opportunities and fostering networking and trade partnerships.

Also present at the opening ceremony were the Entrepreneur and Cooperatives Development  Minister Datuk Ewon Benedick and his deputy, Datuk Seri R. Ramanan.

-- BERNAMA