Budget 2027: Record RM57b allocation to boost Malaysian MSMEs’ resilience amid global economic uncertainty
KUALA LUMPUR, Oct 17 — The government has allocated a record RM57 billion in financing facilities for micro, small...
Malaysia's government has announced a record RM57 billion financing allocation for micro, small, and medium enterprises (MSMEs) as part of Budget 2027. This significant increase from the previous RM50 billion demonstrates the government's dedication to bolstering the resilience of the MSME sector by enhancing access to financing, reducing business costs, and improving service delivery.
Minister Steven Sim Chee Keong highlighted the challenges MSMEs face due to global economic uncertainties, such as rising energy costs and supply chain disruptions. He emphasized that while certain factors beyond the country's control cannot be altered, the government remains committed to providing support within its reach. Sim also addressed the recent minimum wage increase, noting that MSMEs have been granted an exemption to alleviate operational cost pressures.
However, he stressed that this does not mean the government is relinquishing its goal of creating high-income jobs for Malaysians. Sim expressed optimism that 2027 will be a better year for the MSME sector, supported by government initiatives and the resilience of local entrepreneurs. The Enterprise 50 (E50) Awards ceremony witnessed 50 MSMEs receiving recognition for their achievements, performance, and capability in expanding their businesses.
Rizal Nainy, CEO of SME Corp Malaysia, revealed that the E50 Business Matching programme, held as part of the awards, successfully generated RM420 million in potential sales. This event aimed to broaden MSMEs' access to export markets and foster new business collaboration opportunities.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
