Collaboration among SMEs can help boost GDP - Minister Redzuan

KUALA LUMPUR: It is important for small and medium enterprises (SMEs) to collaborate with each other as they are an engine of economic growth, said Minister in the Prime Minister's Department (Special Functions) Datuk Seri Mohd Redzuan Md Yusof.

He said SMEs are already among the biggest contributors to the country's Gross Domestic Product (GDP) and collaboration would make their role even more important.

He said SMEs are machinery for creating employment, value and innovation, and the government has been paying attention to them.

"It's important for the government to be sensitive and give more if necessary, other than giving opinions on how we can improve together," he told reporters after delivering his speech at the Platinum Business Awards 2020 here today.

In his speech, Mohd Redzuan said the COVID-19 pandemic has posed a huge challenge to all sectors and the path to economic recovery will be rough.

SME-COLLABORATION 2 (LAST) KUALA LUMPUR

Despite this, he gave an assurance that the government would continue to work round the clock to play a pivotal role in revitalising the economy.

He also stressed that it is important for everyone to be prepared for the shift towards digitalisation.

The COVID-19 pandemic had shown that businesses that survived were staying in touch with the market place through the digital platform, he added.

"If you notice, the government has spent a lot of money to get a lot of people especially B40 to be involved in this digitalisation," he added.

-- BERNAMA