{
  "id": 17219978,
  "title": "Foreign investments should deliver more opportunities for Malaysian SMEs, says Steven Sim",
  "url": "https://urgent.news/2026/10/30/foreign-investments-should-deliver-more-opportunities-for-malaysian",
  "topic": "world",
  "section": "World",
  "published": "2026-10-30T11:49:53.000Z",
  "source": {
    "name": "Malay Mail",
    "slug": "malay-mail-malaymail",
    "url": "https://www.malaymail.com/news/malaysia/2026/10/30/foreign-investments-must-deliver-more-opportunities-for-malaysian-smes-says-steven-sim/241327"
  },
  "original_language": "en",
  "account": "Steven Sim Chee Keong, Entrepreneur Development and Cooperatives Minister, emphasized the importance of foreign investments in creating more opportunities for Malaysian micro, small, and medium enterprises (MSMEs) during a panel discussion on Budget 2027. Sim highlighted the government's intention to give greater consideration to local content in procurements by government, government-linked companies (GLCs), and multinational corporations (MNCs) to ensure local businesses benefit from investments and the growth of domestic supply chains. This approach, part of the SCALE Action Plan, aims to reform the MSME sector through legislative, regulatory, and policy measures.\n\nThe government has also revised its investment incentive system, linking tax incentives to key performance indicators such as the creation of high-paying jobs for Malaysians and the development of the local supply chain. Sim explained that this approach seeks to ensure that foreign investments generate spillover benefits for MSMEs rather than exclusively benefiting large companies.\n\nGLCs and GLICs play a crucial role in developing local industries and assisting smaller businesses as they grow, avoiding crowding them out of the market. The government has instructed these entities to invest up to RM25 billion annually to bolster the local supply chain, with a portion of the funds to be invested domestically to foster local industries. Sim stressed that strengthening MSMEs is vital, as they constitute about 96% of business establishments in Malaysia, although their contribution to the gross domestic product (GDP) remains below 40%.\n\nThe government's goal is to elevate MSMEs' contribution to at least 40% of GDP, acknowledging that while MSMEs are the predominant business entities in many developed economies, their economic impact is higher.",
  "summary": "GEORGE TOWN, Oct 30 — The government wants local content to be given greater consideration in government, governme...",
  "key_points": [
    "Foreign investments aim to boost opportunities for Malaysian MSMEs.",
    "Government to prioritize local content in procurements and GLCs' investments.",
    "Tax incentives tied to job creation and local supply chain development."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}