SME growth prospects to recover gradually in 2021 supported by stimulus packages - PM

KUALA LUMPUR: The growth prospects of the small and medium enterprises (SMEs) are expected to recover gradually in 2021 in line with the overall economic growth forecast, said Prime Minister Tan Sri Muhyiddin Yassin.

The growth would be supported by the implementation of the economic stimulus packages such as the RM150 billion National People's Well-Being and Economic Recovery Package (PEMULIH) announced on June 28, he said.

"PEMULIH's focus includes on supporting businesses with the main goals of reducing costs borne by the employers, facilitating digitalisation efforts, offering financial assistance and tax incentives, providing financing facilities and continuing employment incentives, which would benefit SMEs.

"The implementation of the economic stimulus packages and Budget 2021 will be able to assist SMEs in easing cash flow constraints and enhance business resiliency," the prime minister said in his pre-recorded speech for the virtual launch of the MyAssist MSME portal and National SME Week 2021.

-- BERNAMA