Intensify efforts to help SMEs expand overseas, says PM Anwar

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Prime minister Anwar Ibrahim has reportedly said efforts to assist small and medium sized (SMEs) Malaysian companies in expanding overseas must be enhanced to put them in a more favourable position.

This was told to Malaysian media outlets on the last day of his official visit to Uzbekistan.

He reportedly added that it is also vital to assist these companies to develop stronger networks with their overseas counterparts in order to better market their products, according to Bernama.

Don't miss: Political stability in MY has made it an investment destination, says PM Anwar

PM Anwar reportedly added that these networks are needed for smaller companies with capitals of jus tens of millions of ringgit as job and product marketing networks are important to lift the positions of these companies.

These statements were made at the Uzbekistan-Malaysia Top Level Business Forum which saw PM Anwar and Deputy Prime Minister Jamshid Khodjaev in attendance. In fact, 200 companies reportedly joined the forum, some of which were major companies from the private sector and the government.

Both countries need to use each other's strengths to increase trade and investment relations, he said in Malay in a post on X seen by A+M.

He added that collaboration among developing countries needs to be strengthened to support economic growth among the countries involved.

He added on X that the Uzbekistan-Malaysia Top Level Business Forum is expected to generate export revenue of at least RM710 million, which will contribute to the country's economic growth. Agencies would need to simplify and expedite this investment.

The political figure kicked off his official visit to the Kyrgyz Republic, Kazakhstan, and Uzbekistan at the invitation of President Sadyr Japarov of the Kyrgyz Republic, President Kasym-Jomart Tokayev of Kazakhstan, and President Shavkat Mirziyoyev of Uzbekistan on 15 May.

It's not the first time PM Anwar has made comments to drive Malaysia's economic growth in a forum. In a previous forum, Prime Minister Anwar Ibrahim reportedly said that Malaysia’s political stability and clear economic policies have reportedly allowed it to gain world attention as a leading investment destination.

He has also pointed out the need to develop an educated workforce as Malaysia's investments from companies such as Infineon and Nvidia to name a few, require 30,000 engineers which Malaysia is unable to fully fulfil at the present moment.

Photo curtsey of the Prime Minister's Office.

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