Kuala lumpur: Malaysia today called for the establishment of a OneASEAN SME Movement to strengthen cooperation among small and medium enterprises (SMEs) across the region and drive inclusive economic growth.
According to BERNAMA News Agency, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi stated that the initiative would serve as a regional drive to connect entrepreneurs, investors, and innovators throughout ASEAN, particularly in emerging sectors such as high technology, halal trade, and digital services. He emphasized the movement as the "heartbeat of our regional economy," aiming to empower people, strengthen resilience, and propel ASEAN into the next frontier of growth.
Ahmad Zahid highlighted that ASEAN, with its vibrant market of 680 million people, offers vast potential for more than 70 million SMEs. Despite contributing 44.8 per cent to regional Gross Domestic Product (GDP) and 85 per cent to total employment, SMEs currently contribute only 18 per cent to ASEAN's total exports. Thus, he identified platforms like SME Venture@ASEAN 2025 as gateways for entrepreneurs to penetrate the robust ASEAN market and integrate more meaningfully into global value chains and regional trade frameworks.
The Rural and Regional Development Minister reiterated Malaysia's readiness to lead as an anchor nation within the ASEAN business and trade ecosystem, especially as the pace of transformation today demands agility, foresight, and courage. At the national level, Ahmad Zahid mentioned the government's commitment to advancing micro, small, and medium enterprises (MSMEs) through the MADANI Economy Framework and the National Entrepreneur Plan 2030 (NEP 2030). The objective is to increase the proportion of medium-sized firms from 1.6 per cent in 2024 to five per cent by 2030, focusing on scaling up enterprises and supporting internationalization.
One of the key strategies to achieve this ambition is to encourage more SMEs to venture beyond borders to expand their markets, explore new partnerships, and unlock growth opportunities. Ahmad Zahid emphasized that internationalization must become the new frontier for Malaysian SMEs.
The SME Venture@ASEAN 2025, organized by the Entrepreneur and Cooperatives Development Ministry and SME Corporation Malaysia, drew participants from 18 nations, including all ASEAN member states. The event aims to enhance the exports of Malaysian SMEs, particularly within the ASEAN region, by bringing together key stakeholders, showcasing business capabilities, offering business matching opportunities, and fostering networking and trade partnerships.
Also present at the opening ceremony were the Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick and his deputy, Datuk Seri R. Ramanan.