SAMENTA Backs KUSKOP’s ABCD Strategy, Proposes Fifth SME Pillar

KUALA LUMPUR, Dec 18 (Bernama) -- The Small and Medium Enterprises Association of Malaysia (SAMENTA) has suggested further strengthening Malaysia’s small and medium enterprises (SME) framework by adding a fifth pillar focused on an enabling ecosystem.

It was reported today that newly appointed Minister of Entrepreneur Development and Cooperatives (KUSKOP) Steven Sim has outlined a strategy to drive economic growth by empowering SMEs and strengthening the cooperative movement.

In fulfilling this mandate, he said KUSKOP would steer Malaysia’s business growth based on the ABCD approach, A – Accelerate Productivity, B – Bureaucracy Reduction, C – Capital Accessibility, and D – Develop Market Access.

SAMENTA said in a statement today that these four pillars directly address long-standing structural constraints confronting SMEs, ranging from productivity stagnation and increasing regulatory burdens to financing gaps and limited market access.

“To further strengthen this framework, SAMENTA humbly proposes the addition of a fifth pillar: E – Enabling Ecosystem.

“An enabling and empowered SME and policy ecosystem is critical to ensure that gains from productivity, capital and market access are sustainable,” it said.

SAMENTA said this includes access to talent, digital adoption, innovation capability, governance standards, supply chain integration, effective coordination across agencies, and strong partnerships with industry associations.

“With a robust enabling ecosystem, the impact of the ABCD initiatives can be deepened while unlocking and accelerating existing programmes and plans across the entire SME ecosystem,” it said.

SAMENTA also pledged its full support to Sim and the ministry in advancing the ABCD, and ABCDE agenda.

“We are ready to support by providing ground-level insights from SMEs across various sectors, supporting policy design and implementation, assisting in productivity, capability and governance enhancement initiatives, and mobilising SMEs to align with national economic priorities,” it said.

-- BERNAMA