KUALA LUMPUR: The programmes within the SME Masterplan 2012-2020 has shown some success so far, but there could be more done, according to World Bank senior economist Smita Kuriakose.
Speaking to the media on the sidelines of the launch of ‘A Practitioner’s Guide to Innovation Policy’, Smita said in terms of progress, it was much better compared to the masterplan’s initial stages.
“SMEs now contribute close than one third of Malaysia’s gross domestic product, which is significant, but there’s more to be done.
“SMEs constitute more than 98% of the economy so they need to contribute a lot more. With Industry 4.0 with greater automaton and digitisation, SMEs need to adopt more technology, link into global value chains and really integrate into the global landscape,“ she said.
In terms of the success of the high impact programmes, Smita noted those that did well were ones that were able to be coordinated across various agencies.
“Some examples of this were public private partnerships (PPP) and those that had a very robust monitoring and evaluation system. These are very critical factors for success,“ she said.
She further explained that for PPP in particular, it is important to have an enabling environment facilitated by public policy but the implementation of various programmes should be left up to the private sector which has more experience.
Going forward, Smita said in order for the masterplan to show continued success, the factors that have shown to have worked well should be replicated.
“Things like a coordinating mechanism, having a buy-in from the National SME Council, and getting programmes implemented by the private sector are factors which we say should be replicated going forward in Malaysia,“ she said.
source https://www.thesundaily.my/business/sme-masterplan-shown-some-success-but-more-could-be-done-world-bank-economist-BG2019146
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