Govt aims to empower MSMEs and local traders to share in economic growth, Armizan says

The Malaysian government aims to empower micro, small and medium enterprises (MSMEs) and local traders to contribute to the nation's economic growth, according to Datuk Armizan Mohd Ali, the Domestic Trade and Cost of Living Minister. Ali stated that this was crucial due to perceptions that there is a gap between the country's economic growth and reality on the ground.

Despite Malaysia's GDP growing steadily in recent years, with 3.7% in 2023, 5.1% in 2024, and 5.2% in 2025, reaching 6% in the second quarter of 2026, there is a need to ensure that these gains are realized by the grassroots population.

Ali emphasized that strong domestic demand and sustained household spending are driving consistent economic growth, and the government intends to bolster local products to play a significant role in this growth. The promotion of local products extends beyond incentivizing Malaysians to purchase locally made goods; it also seeks to enhance confidence in Malaysian brands and broaden market access from local to national, regional, and global platforms.

To achieve this, the government has intensified efforts through a nationwide approach, engaging various stakeholders including ministries, agencies, entrepreneurs, retailers, digital platforms, media, and the public.

In July, the Cabinet approved the formation of the Cabinet Committee on Empowering the Use and Purchase of Local Products, chaired by Deputy Prime Minister II Datuk Seri Fadillah Yusof and based at the Domestic Trade and Cost of Living Ministry. The committee is set to initiate its first meeting soon, with the agenda encompassing addressing challenges faced by MSMEs, such as the influx of imported goods via online platforms.

Moreover, Armizan clarified that Jom Malaysia Festival Penang, a transformation of the long-running Buy Malaysian Goods Campaign (KBBM) since 1984, is not a single initiative but rather a component of the broader strategy to foster economic patriotism and instill confidence in Malaysian products. The four-day festival, which ran from September 17 to 20, encompassed activities like the RAHMAH Madani sales programme, exhibitions of local products, government agency showcases, and the 2026 Consumer Festival (CONFEST).