KUALA LUMPUR, Aug 20 – Malaysia’s Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has set a target to raise the share of medium-sized enterprises within the small and medium-sized enterprises (SME) sector to 5% by 2030, up from just 1.8% in 2023, as part of efforts to strengthen economic resilience and competitiveness.
Entrepreneur Development and Cooperatives Minister Ewon Benedick said the scaling agenda will be driven by encouraging SMEs to move into high value-added activities, adopt disruptive business models, integrate into global value chains and pursue listings on the capital market.
“KUSKOP is also prioritising the development of halal SMEs through the Halal Entrepreneurship Development Programme (PPKH), which covers industry capacity building, halal technology innovation and internationalisation of halal entrepreneurs,” Ewon told Parliament during the winding-up speech on the 13th Malaysia Plan (RMK-13).
To strengthen Bumiputera participation, Ewon said initiatives under the National Entrepreneurship Policy 2030 (DKN 2030) and the Bumiputera Economic Transformation Plan 2035 (PuTERA35) are being rolled out, including programmes such as BEEP, GEB, BEP, BRAVE, Regional Champions and the Vendor Development Programme.
In the cooperative sector, the government has allocated significant funds through the Malaysian Cooperative Commission (SKM), including RM100 million for the Revolving Capital Fund, RM4.75 million for PPMK 2.0, RM2 million for SCOPE and RM3 million under SE.RASI. As of August 2025, a total of 520 enterprises, including SMEs and cooperatives, have been certified as social enterprises under the SEMy2030 roadmap.
Ewon said RMK-13 will also prioritise “Made by Malaysia” products and services in government procurement, guarantee SME participation in foreign investment projects, and strengthen micro-entrepreneurs including those in border areas.
On digitalisation, initiatives include the launch of a TikTok Shop Studio by TEKUN Nasional, SME Technology Transformation Fund (STTF) by SME Bank, the TEKUN Online Financing Scheme (SPOT), and KUSKOP’s MyMall platform.
Access to financing will also be streamlined by agencies including TEKUN, AIM, Bank Rakyat, SME Bank, Pernas and SME Corp., with simplified applications and faster approvals.
Aligned with the rollout of e-Invoicing, KUSKOP through INSKEN, SME Corp. and TEKUN is working with the Inland Revenue Board of Malaysia (LHDNM) to guide SMEs in improving financial efficiency and tax compliance.
