Budget 2027: Making 2027 the Year of Malaysian MSMEs through purpose-driven governance — Geoffrey Williams
OCTOBER 13 — The ultimate measure of the success of Budget 2027 is not so much in macro-economic figures but in th...
The Madani government has declared 2027 as the Year of Malaysian MSMEs, emphasizing the significant role these businesses play in the economy. MSMEs account for 97.4% of all businesses in Malaysia, employing 8.1 million people or 48.7% of the total workforce. In 2025, MSMEs outpaced national GDP growth, with value-added growing by 5.7% and exceeding the overall national GDP growth rate of 5.2%. They contributed 39.7% of Malaysia’s total GDP, with services and manufacturing making up 84.5% of MSME GDP.
Entrepreneur and Cooperatives Development Minister Steven Sim is leading transformative measures to support MSMEs under his ministry. Budget 2027 focuses on easing financing access, reducing business costs, and opening up market opportunities. Key reforms include a historic loan and financing guarantee of RM57 billion, a two percent reduction in corporate income taxes for MSMEs, and a 50% rental discount for small traders renting DBKL premises.
Sim's approach serves as an example of effective leadership by balancing economic growth with social compassion.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
