Collaboration Among SMEs Key to Strengthening National Economy – Redzuan

KUALA LUMPUR – Collaboration among small and medium enterprises (SMEs) is vital to boosting Malaysia’s economic recovery and long-term growth, said Minister in the Prime Minister’s Department (Special Functions), Datuk Seri Mohd Redzuan Md Yusof.

He described SMEs as the engine of economic growth, playing a crucial role in job creation, value generation, and innovation—making it essential for them to support one another and explore synergies.

“SMEs are one of the largest contributors to Malaysia’s Gross Domestic Product (GDP), and their collaboration strengthens that impact even further,” he said after delivering his speech at the Platinum Business Awards 2020 in Kuala Lumpur yesterday.

Redzuan noted that the government remains attentive and committed to supporting the SME sector, particularly in guiding improvements and offering relevant feedback.

“It’s important for the government to be responsive and give more attention where needed, offering insight and working together on solutions,” he told reporters.

Recovery Through Digitalisation

In his earlier speech, Redzuan acknowledged that the COVID-19 pandemic posed unprecedented challenges across all sectors, and that the road to recovery in the coming years will not be easy.
However, he assured that the government is fully committed to playing a proactive role in economic recovery efforts.

He emphasized the need for businesses and the public to embrace digital transformation, which has proven essential for resilience during the pandemic. “The pandemic has shown that entrepreneurs who adapted to digital platforms managed to stay relevant and survive in the market,” he said.

Redzuan also pointed out that the government has invested significantly in supporting digital inclusion, especially among lower-income groups such as the B40, to ensure they are not left behind in the digital economy.

“If you look at it… the government has spent a lot to get more people—especially from the B40 group—into the digital space,” he added.

–Source